Coimbatore-based KPR Mill will invest ₹ 250 crore this financial year to create a new garment production facility.
P. Nataraj, Managing Director of KPR told, that the plant will have a capacity to produce 42 million pieces of garments a year and will take the total garment production capacity of the company to 157 million pieces a year. The additional capacity will be only for exports, for both, new and existing customers. The plan is to commission the production facility in the first quarter of next financial year.
“The company was planning to expand its garment production capacity. It was looking at India and Ethiopia, where too it had a production facility. Finally, it decided to invest in India,” he said. The capacity utilisation at the new plant will be ramped up gradually.
There was a lot of panic and fear in the market in March-April because of the spread of COVID-19. The market started picking up in August and the demand was good. “We do not know the reason and how long this will last. But the demand is good now,” he said.