Financial Daily from THE HINDU group of publications
Monday, May 08, 2006
Financial Daily from THE HINDU group of publications Monday, May 08, 2006 |
|
|
|
|
|
|
|
Corporate
-
New Projects Orient Craft plans expansion Our Bureau
The company is evaluating various options to fund its expansion plans.
New Delhi , May 7 Orient Craft a garment exporter, is planning to invest Rs 200 crore to expand capacity at its facilities. "We would be requiring an investment of around Rs 200 crore in the next couple of years to further strengthen our infrastructure," Mr Sudhir Dhingra, Chairman and Managing Director of Orient Craft Ltd, said. The company, he said, was evaluating various options to fund its expansion plans. "We are mulling an initial public offer and have appointed Kotak Mahindra and ICICI Securities to analyse the various options available to us," Mr Dhingra said. The exporter is also planning to set up a textile Special Economic Zone (SEZ) in Gurgaon. The proposed SEZ would be spread over 600 acres of land of which the company has already acquired 400 acres. "The remaining 200 acres would be acquired in the next couple of months," Mr Dhingra said. He said the company would initially invest around Rs 300 - 400 crore in the SEZ and invite further investments from co-promoters. The SEZ, Mr Dhingra said would require an overall investment to the tune of Rs 2,000 crore and would be completed in the next two-and-a-half years. Orient Craft boasts of a long list of international clientele including Gap, Banana Republic, Tommy Hilfiger, Marks & Spencer, and Ralph Lauren, among others. The company had earlier acquired a Levi's plant in Spain for Rs 60 crore. Orient Craft has around 20 modern manufacturing facilities in and around Delhi, and employs over 23,000 people. The Rs 745-crore turnover company is bullish on its future prospects and hopes to clock around Rs 950 crore turnover this fiscal.
More Stories on : New Projects | Textiles
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, 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
|