• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Pune , Oct. 13

ITALIAN textile major Carrera will invest Rs 1,000 crore in Maharashtra over two to three years with the company firming up plans to set up manufacturing plants at multiple locations across the State.

The Carrera group, with interests in leather, textiles and textile-related equipment, plans to set up garment processing units in Solapur and manufacture latest technology powerlooms, garment finishing machines and textile robotics at Kolhapur, Mr Bhagwan Sahai, the State's Development Commissioner for Industries told reporters.

Carrera also plans to set up a design centre and locate its back-end operations at Mahape in Navi Mumbai.

Mr Sahai said Carrera Holdings had entered into an MOU with the State Government as part of which the Maharashtra Industrial Development Corporation (MIDC) will provide build-to-suit factories and facilities for the proposed projects.

"The MOU was signed on September 13 and they want the factories to be ready by March," Mr Sahai said adding that the Rs 1,000-crore investments will be made over two to three years.

Mr Sahai said phase one of Carrera's operations in India will include garment processing units on forty hectares of land and manufacturing of looms, finishing machines and garment robotics on fifty hectares of land at MIDC's Kagal industrial estate near Kolhapur.

Phase two of the group's venture will be a foray into the leather garments business, also in Maharashtra. The Italian group's entry will pave the way for other large brands such as Armani which are interested in investing in the State, he said.

"Carrera is simultaneously developing a relationship with dye-makers in the State and will eventually get into partnerships with some of these unit," Mr Sahai said adding that at least a couple of the group's global suppliers of dyes are from the State. Mr Sahai said the group is also looking to enter at entering the retail space where it plans to get into business initially at three to four malls in Mumbai city.

"Carrera's entry into the State will catalyse the transformation of the textile industry here," he said, pointing out that 44 per cent of the country's power looms were situated in Maharashtra.

More Stories on : New Projects | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
L&T bags HSBC contract

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line