ABFRL to invest ₹114 cr for new apparel unit in Odisha

The new up-coming plant will be financed 30 per cent by equity and balance 70 per cent by term loan, regional media reports said. The project will be implemented within 24 months from the date of approval. 

“This will be the second apparel manufacturing unit of ABFRL in Odisha and comes on the heels of the first unit in Bhubaneswar set up in November last year,” said Odisha industries department principal secretary Sanjeev Chopra.

ABFRL sells various in-house brands such as Louis Philippe, Allen Solly, Peter England and also operates the fashion retail chain Pantaloons. The company’s first unit in Odisha has capacity to produce around four million shirts per annum and employs around 2,000 employees who are mostly women. (PC)

ALCHEMPro News Desk – India