Country’s largest suiting maker and retailer Raymond has on Saturday (April 30) formally begun construction of its first large capacity integrated manufacturing facility at the newly announced textile park at Nandgaon Peth in Amravati in Maharashtra. The company, which is one of the top manufacturers of worsted suiting and cotton shirting fabrics in the world, said it will manufacture linen, cotton shirting and denim fabrics at this Rs 1400 crore facility besides housing its largest garmenting unit.
The new textile unit, which will come up at a 200 acre land in the textile park, will be able to provide some 8000 jobs, the company said. Raymond had signed a MoU (memorandum of understanding) with the Maharashtra government for setting up this facility at the occasion of the Centre sponsored Make-in-India conference and exhibition in Mumbai February.
“Partnering with the government in its Make-in-India initiative and Maharashtra’s endeavour to develop backward regions like Vidarbha, Raymond had committed this investment and I now thank chief minister of Maharashtra Devendra Fadnavis for laying foundation stone for the facility to take this project forward,” said Gautam Hari Singhania, chairman and managing director, Raymond on Saturday.
Along with generation of multiple employment opportunities it (the new project) will contribute substantially to the overall development of the region, Singhania said adding that the group also plans to create top-quality educational facilities at this location for the benefit of Amravati district at large, once the operations here reach appropriate scale.
The Amravati project is in line with Raymond’s ongoing strategy to expand cotton textile manufacturing footprint by creating world-class Linen, cotton shirting, denim and garmenting.
“The new production facilities will provide employment potential exceeding 8000 workers with capital infusion of about 1400 crore in different phases,” said SK Gupta, CEO – cotton textile businesses, Raymond.
Raymond already operates a 45 million meters capacity denim fabric plant in the Vidarbha region at Yavatmal employing more than 2500 hands. The company, which owns popular apparel brands like Park Avenue, Color Plus, Parx, Raymond Premium Apparel and offers custom tailoring services under the Made-To-Measure and Made-To-Fit verticals supported by a chain of over 1000 stores in India and neighbouring countries, also has interests in men’s accessories, personal grooming and toiletries, prophylactics, energy drinks, files, tools and auto components.
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Unnikrishnan is currently Senior Associate Editor with BW Businessworld at its Mumbai Bureau. During his two decades long journalistic career, he has received several media awards and recognitions. His articles on healthcare, life sciences and intellectual property rights (IPR) have been republished by several international blogs and journals.
