Welspun to invest Rs 4k crore in textiles

Welspun Group, a leader in home textiles, has announced an investment of Rs 4,000 crore for three large textile projects in Gujarat. The three MoUs, which are being signed during the ongoing Vibrant Gujarat Summit 2017, were announced by BK Goenka, Chairman, Welspun Group at the Summit.

Amongst the larger of the three projects, Welspun will invest in developing an integrated textile manufacturing zone. This will be a part of the Government’s Sagarmala project where Kutch is among the first identified key locations. The company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets.

Welspun will further invest Rs 1,000 crore in its technical textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities. 

Another Rs 1,000 crore is being invested in the advanced textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defense and automobile sectors. The project will generate a direct employment of 2000 persons and indirect employment of 5,000.