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

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