Ahmedabad based textile group Chiripal Group has planned investments of Rs 3,640 crore in various segments of the textile industry in the next two years.
“Group company and second biggest denim fabric producer in India – Nandan Denim will invest
Rs 612 crores at its Textile Park in Bidaj,” a statement from Chiripal Group said.
Among other investments, the group will invest around Rs 1,306 crores to expand its spinning and weaving activities under Chiripal Industries Limited and Shanti Exports Private Limited.
It is also expanding polypropylene (PP) capacity and is coming up with polyester chips manufacturing, packaging film coating and converting and manufacturing of BOPET at cost of Rs 1,172 crores.
They are also setting up a knitting plant and alongside manufacturing of terry towels will also be undertaken at an investment of around Rs 400 crores at Dholi village in Dholka taluka of Ahmedabad.
A Spinning Park under the name of Dholi Integrated Spinning Park Limited at Dholi has been planned at an investment of Rs 150 crore, which will house 11 spinning units and 5 weaving units.
“The investments are outcomes of Memorandums of Understanding (MoU) signed by the group with the state government at the Vibrant Gujarat Summit 2015 in Gandhinagar, the statement added. (AR)
