Mumbai (India)-based Aditya Birla Fashion Retail Ltd. has received the approval for its plan to set up an garment manufacturing factory in Rayagada district of Odisha with a capacity of 36 lakh pieces per annum.
The company will make a total investment of Rs. 114 crore, to set up the facility. The unit is expected to create 2,750 jobs, producing 3.6 million pieces of garment per annum.
Notably, this will be the second unit of Aditya Birla Fashion, which retails Louis Philippe, Allen Solly, and Peter England brands, after the one in Bhubaneswar, set up in November last year.
The Bhubaneswar unit has a apparel manufacturing capacity of 4 million shirts per annum. It employs around 2,000 employees, mostly women.
The firm has also specified in its tender that the project will be financed 30 percent by equity and balance 70 percent by term loan. The plan will be executed in 24 months from the date of agreement.
Download Perfect Sourcing News App for Latest Business of Fashion News.
