|
Eastern Silk sets up Rs 60-crore facility in Anekal
E-Tex Staff - Bangalore
Kolkata-based Eastern Silk Industries has set up a Rs 60-crore silk fabric manufacturing
facility at Anekal near Bangalore. The new facility is expected to boost the
export growth of the company. The company is also planning an additional investment
of Rs 100 crore for further expansion plans including upgradation of existing
facilities and setting up of new facilities.
Addressing media, Eastern Silk Industries chairman, Mr S S Shah said that the
company was expecting its current exports of Rs 250 crore to grow to Rs 300
crore by 2005. The new facility, expected to employ nearly 400 employees, would
account for exports worth Rs 75 crore, he added. Eastern Silk currently exports
to markets in Europe and the US. He said the company, with around 20,000 employees
and net worth of Rs 100 crore, would look at catering to the Indian silk market
after a period of four years.
Karnataka state minister for large and medium scale industries, Mr R V Deshpande
said that the state contributed for 70 per cent of the country’s silk production
and exports. Silk exports from the state, which were worth Rs 772 crore in the
year 2001-02, grew to Rs 800 crore during 2003-04. Out of nine silk units in
India, eight were based in Karnataka, he said.
|
E-Mail
Print
