Arvind signed MoU with APEDB to setup Textile Park in AP
The leading denim manufacturer in India, Arvind Ltd., executive director, Kulin Lalbhai has inked a Memorandum of Understanding (MoU) with J Krishna Kishore, Chief Executive Officer of Andhra Pradesh Economic Development Board (APEDB). The Indian state which has been wooing the textile majors to establish their units in the Andhra Pradesh. State Chief Minister N Chandrababu Naidu was also present at the signing ceremony.
Kishore quoted, “Andhra Pradesh has been focussing on the textile manufacturing sector with an aim to enhance productivity and efficiency by attracting integrated textile units.”
Arvind Ltd., the fourth-largest producer and exporter of denim in the world will set up an integrated apparel and textile park with an estimated investment of around Rs. 250-300 crores in Chittoor (AP). The arrival of a textile park in the city, reportedly a backward district, will help it to rapidly scale up on value-added industrialisation.
Punit Lalbhai & Kulin Lalbhai said, “Arvind Ltd is really excited to enter Andhra Pradesh with a state of the art garment facility. We are confident that under the visionary leadership of the state government, Andhra Pradesh will see rapid economic development”.
Spreading over an area of 100 to 125 acres and will be established in multiple phases. 24 million pieces of shirts and jeans are expected to be manufactured annually at the proposed textile park. Around 15,000 people are likely to get the job on the completion of the initial phase. The skilled development training will be given to more than 5,000 workers by the company.
Before Andhra Pradesh, Arvind Ltd. inked similar agreements with Gujarat and Jharkhand, as well, last year to set up apparel manufacturing facilities.
Andhra Pradesh’s neighbouring state, Telangana has also inked 14 MoUs recently with various private textile companies to set up their units in Kakatiya Mega Textile Park in Warangal District.
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