Arvind Limited signs MoU with Gujarat govt for Rs300 crore apparel park
Ahmedabad: Textile major Arvind Limited on Tuesday signed an MoU with the Gujarat government to set up a mega apparel park with an investment of Rs300 crore in Dahegam in Ahmedabad district.
The MoU has been signed days after the state government announced its garments and apparel policy, 2017, the company said. The “mega apparel facility” will be a “first-of-its-kind” which will employ more than 10,000 people, it said. The government’s policy envisages achieving textile-to-garment value chain of 5 Fs—farm, fibre, fabric, fashion, and foreign markets, said a company release.
The park is expected to commence commercial production in the fourth quarter of 2018-19 financial year and will produce over 24 million garments once it is fully operational, the company said. The MoU was signed in presence of chief minister Vijay Rupani and Arvind Limited’s executive directors—Kulin Lalbhai and Punit Lalbhai.
“We plan to commence commercial production in the fourth quarter of 2018 and we plan to create 10,000 jobs, a majority of which will be women... We are excited to support the Gujarat apparel policy which aims to create one lakh jobs in the state,” the release quoted Kulin Lalbhai as saying. Arvind Limited is one of India’s largest integrated textile and apparel companies which has registered a turnover of nearly $1.5 billion in FY 2016-17.