Hyderabad: The Govt of Telangana and Texport Industries Private Ltd (TIPL), entered into a Memorandum of Understanding (MoU) in the presence of Minister KTR today.
According to the MoU, Texport will set up their Apparel Manufacturing factory on Plug and Play mode in the Built to Suit (BTS) unit to be constructed by the Government of Telangana in 7.42 acres in the Apparel Park, Siricilla.
The Company will install 800 machines and employ 1600 persons and later expand to 1000 machines to create employment to about 2000 persons in a span of over three years.
For the first time in the country, Export Oriented Garment Manufacturing Built to Suit (BTS) Units on Plug and Play Mode are coming up by utilizing the State-of-the-art Manufacturing Ecosystem in Siricilla region. This will enable forward integration of Siricilla Powerloom weaving industry with the apparel and garment manufacturing process, providing more value to Textile Sector development in the State. Further it will provide more skills & employment opportunities to locals.
Minister KTR expressed happiness over Texport setting up their Apparel Manufacturing factory in Sircilla. He assured the company heads of providing complete support and assistance from the Govt of Telangana.
TIPL Managing Director Narendra D.Goenka thanked the Minister and stated that Sircilla has skilled workers which has encouraged them to set up a facility in Sircilla. He also added that the Telangana Govt and its industrial friendly policies have attracted them to the State.
Handlooms and Textiles Commissioner Shailaja Ramaiyer, and TIPL Managing Director Narendra D. Goenka signed the MoU respectively.
Texport Industries Private Ltd (TIPL), a Bangalore-based Readymade Textile Giant is one of the major players in the Readymade Garments Industry in India as well as in the international market since 1978.It is one of the first companies in India to start export operations. The Company deals with the manufacture of Woven as well as knitted garments for men and women and kids like Shirts, Jackets, Trousers, T-Shirts, Sleepwear etc. TIPL produces in excess of 1.6 million garments a month (17 million annually) from 19 directly owned Facilities across the Country. TIPL currently employs more than 15000 people and has an installed capacity of more than 6000 machines. The Company has an annual Revenue of USD 80 Million (about Rs.620 Crores). (INN)