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Welspun India to spend Rs 8 bn for capacity expansion

Sep 22, 2021
Welspun India to spend Rs 8 bn for capacity expansion

Gujarat

Welspun India, the country's largest home textiles manufacturer, has said it is looking to invest around Rs 8 billion on capacity expansion of its home textiles and flooring businesses over the next two years. Welspun India would invest Rs 6.5 billion on its home textiles business expansion during FY'22-23. Its plans include augmenting its towel manufacturing capacity by 20% to meet the growing demand from the overseas customers.

The board of the company in a meeting, approved plans to augment towel manufacturing capacity at its Anjar, Kutch (Gujarat)-based plant to 1,02,000 metric tonnes per annum (MTPA) from the existing 85,400 MTPA. For its Vapi, Valsad (Gujarat) based plant, the board has approved additional investment relating to automation for faster production turnaround at lower cost.

At Vapi, the company has commenced expansion of rugs capacity expansion by 80% during the last financial year. The benefits of these expansions will start accruing in phases from Q1 FY'23 onwards.

There would be de-bottlenecking and rebalancing of its facility at Telangana, including setting up of a 25 MW renewable energy power plant and to further the group's commitment towards ESG by embedding sustainability and circularity at every stage of its value chain.

According to Welspun India, in the current financial year, it has invested Rs 2.81 billion in capex and the total investment during FY'22 will be Rs 7.5 billion including the investment approved by the board for the home textiles and flooring businesses.

Source: Moneycontrol.com

Image Source: Google Images

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