Kitex to invest Rs 500 crore for infant wear expansion plans

Kitex Garments Ltd will set up its fourth full-fledged export-oriented infant wear production unit either in Andhra Pradesh or Karnataka.

The company is a part of the Anna-Kitex group of companies. According to Sabu Jacob, CMD, Kitent, “We have drawn up Rs 500 crore expansion plan for which we need 50 acres.”

He added that one portion of expansion will take place in Kochi and the balance will come up either in Andhra Pradesh or Karnataka.

He further said that the Andhra Pradesh government was making huge offers by way of tax benefits, free land and cheaper power.

Stating that they have two goals, he elaborated that the first is Rs 2,000 crore revenue and one million garment pieces by 2020 and the second is for 2025, which is yet to be finalised.

Image Credit : thehindu.com

News Reporter