Vilan Apparels Pvt Ltd, a Vijayawada based hosiery and undergarments manufacturing company, will invest Rs 420 million for establishing a new spinning mill at Cherala in Prakasam district. The mill will be developed on a 15 acre plot and will have a capacity of 16,000 spindles.
T. Ramesh Babu, Director, Vilan, while addressing the press said that, construction work for the mill has already commenced and it is likely to begin operations by the end of this year.
Funds for establishing this new mill will be generated through internal accruals. More so, over the next five years, the company intends on investing around Rs 1 billion to establish itself as a national brand.
Babu said that, with the support of this new investment, they expect that, their turnover this year will be 25 percent higher than last year's turnover figure of Rs 350 million. In addition, we also expect that in the next five years we will achieve a turnover of Rs 1 billion.
Around all this, the company has also introduced into the Andhra Pradesh market, four new products namely Broadband, New Feel, Soft Skin and Bamboo socks, ranging between Rs 125 to 150 per unit.
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