Coimbatore-based KPR Mill is planning to add a green field manufacturing facility of 36 million garment per annum capacity at an estimated cost of Rs 175 crore. With the latest addition to its manufacturing strength, the total garment capacity will become 95 million garments per annum. The project is expected to be completed during the current fiscal.
The development comes on the backdrop of increase in interest from global customers in the knitwear hub of Tirupur.
The board has considered and accorded its approval to the proposal considering the impelling orders from the existing buyers and the encouraging response from US market.
KPR Mill is a leading garment exporter as well as a largest vertically integrated apparel company, engaged in manufacturing and marketing readymade knitted garments, knitted fabrics and cotton yarn.
KPR Mill has earlier added the brownfield capacity of 10 million garments and a green field capacity of 12 million garments taking the total capacity to 59 million garments per annum, during the financial year 2014-15. With this new capacity the garment revenue has increased by 34 per cent during the year.
According to the company, with the consumerism and disposable income on the rise, the Indian Textile and Apparel sector has experienced a swift growth in the past few years with several international players having entered Indian market.
The Tirupur knitwear industry has grown considerably in exports to Rs 21,000 crore in 2014-15 from Rs 18,000 crore in 2013-14, up by 15.5 per cent.
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