Investment of Rs 200 cr in bed sheets production plant by GPI textiles
21 Nov '05
1 min read
GPI Textiles Limited, one of the major companies of $ 2.5 billion Ispat Group, has decided to invest Rs 200 crore in the production of bed sheets at its Nalagarh plant in Himachal Pardesh by mid 2007.
The company will be establishing weaving, dyeing and stitching units in HP, informed Sanjeev Budhiraja, Vice-President (Marketing), GPI Textiles Limited.
GPI Textiles will finance the project with internal accruals and loans from banks and financial organisations. Presently, the company is outsourcing bed sheets from domestic producers.
With a huge potential for bed sheets in Europe, US, Spain and Belgium, GPI will be exporting its production to Europe and US markets. The company is anticipating a turnover of Rs 150 crore from this project in the year 2007, said the Vice President.
The company is also fairly positive over the anti-dumping duty imposed by European Union on bed sheet from Pakistan, which is likely to push up the bed sheet trade from India.
marketing@alchempro.com
