| Rajasthan-based SRSL Group, a Rs 400 crore company, is planning to invest around Rs 120 crore in Gujarat for establishing its textile unit.
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| Currently, the company is in confusion whether to invest the amount near Panoli or Himmatnagar.
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| "Gujarat being a low cost state, we have decided to establish our next unit for spinning, knitting and processing in Gujarat," said Vinod Ladia, CMD of the group.
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| Currently, the company has textile units in Punjab and Rajasthan.
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| Earlier, the company had decided to set up the unit near Himmatnagar but later they realised the cost of the gas as a fuel for production, is high compared to gas available in Panoli.
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| "But since Panoli is far from Udaipur, we are still confused as to which place should we invest," said Ladia.
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| Moreover, fuel in Panoli is cheaper but the atmosphere is not clean for a textile plant, he added.
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| He further said the fund is already ready with the company since November.
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| "However, we are more keen to set up unit near Himmatnagar as will be nearer to Udaipur," he added.
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| "Right now, Gujarat stands second in textile industry and its booming, therefore, we want to expand our units here," he said.
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| Talking about the export, Ladia said the company currently exports 60 per cent of its total sales in European countries, Far Eastern countries and also in Bangladesh, which is a new competitor of India in textile industry.
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| According to Ladia, the market share of the group in polypropylene is 100 per cent.
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| "We are the only manufacturer of polypropylene in India while in socks our share is 23 per cent." he added.
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| They are also dealing in agriculture, infrastructure projects and power generation. |
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