KPR Mill to invest Rs 175 crore for new garment manufacturing facility

Development comes on the backdrop of increase in interest from the global customers in Tirupur

Coimbatore-based KPR Mill plans to invest Rs 175 crore for setting up a greenfield facility with a capacity to produce 36 million garments per annum. The development comes on the backdrop of increase in interest from global customers in the knitwear hub of Tirupur.

According to the company, with the consumerism and disposable income on the rise, the Indian Textile & 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.

 

“Considering the impelling orders from the existing buyers and an encouraging response from the US market, the board has considered and accorded its approval to the investment proposal,” said the company.

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.

KPR Mill has 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. With this new capacity, the garment revenue has increased by 34 per cent during the year.