Source: Financial Express, Dec 14, 2016
Anjar: Welspun India today said it is investing Rs 600 crore for setting up a facility for manufacturing carpets, area rugs and carpet tiles here, marking the leading global home textile firm’s foray into flooring solutions segment.
“We are expanding our product portfolio by foraying into flooring solutions with a Rs 600 crore carpet plant at Anjar. We will invest Rs 180 crore in Phase I,” Welspun Group Chairman B K
Goenka told PTI here.
The facility, whose foundation was laid today, will have an annual capacity of approximately 7 million square metres.
Goenka said, “Flooring solutions has immense potential as a growing business. We believe this segment will benefit from the synergies with our existing product line and customer base, thereby creating strong growth opportunity for the domestic as well as international markets.The company plans to export 50 per cent of the products from the unit and remaining will be sold in the domestic market, he said.
Speaking at the foundation stone laying ceremony, Gujarat Chief Minister Vijay Rupani said, “Welspun Group has reinforced its commitment to ‘Make in India’ with this new carpet project. I appreciate Welspun’s commitment to Gujarat for creating employment opportunities in the state and contributing to its overall economic development.”