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Chiripal Group plans expansion in various sectors with investment of Rs 3,640 cr

YarnsandFibers News Bureau 2015-01-14 10:00:00 – Ahmedabad

Chiripal Group, an Ahmedabad based textile major, which had started with a few power looms, has evolved into multi-activity, multi-product Textile House that produces fiber to apparel under one roof. At the Vibrant Gujarat Summit 2015 the company announced its plans to make investment of around Rs 3,640 crores for expansion in various sectors in the next two years.

The diversified business in the fields of Petrochemicals, Spinning, Weaving, Knitting, Fabric Processing, Chemicals, Infrastructure, BOPP Films and Educational Initiatives offer employment to more than 20000 people associated directly or indirectly with the Group.

The company is expanding in poly propylene at its existing location in Bidaj in Kheda district and is coming up with polyester chips manufacturing, packaging film coating and converting and manufacturing of BOPET at cost of Rs 1,172 crores in two years.

Also Nandan Denim Limited, the group's flagship company, will be making investment to the tune Rs 612 crores at its textile park in Bidaj.

A knitting project in which manufacturing of terry towel will be undertaken is also coming up with an investment of around Rs 400 crores at Dholi village in Dholka taluka of Ahmedabad.

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, land acquisition for the project has been completed.

A spinning park will also come up in the name of Dholi Integrated Spinning Park Limited at Dholi with eleven spinning units and five weaving units, the investment involve in this project will be of Rs 150 crores.

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, statement issued by the company pointed out.

With clear focus and determined growth plans on the anvil, the Group has been gearing itself to take on the future challenges.

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