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Our Bureau

Hyderabad, Dec. 14

The Sri Lanka-based MAS Holdings, a textile and apparel group in South Asia, will set up an exclusive special economic zone for textiles and apparel in Nellore district of Andhra Pradesh. The 750-acre SEZ is expected to bring in investments to the tune of $200 million.

The $700-million company runs 35 factories in Sri Lanka, India, China, Indonesia and Mexico. Mr Mahesh Amalean, the Chairman of the MAS group, has signed a memorandum of understanding with the State Government in this regard. The SEZ, which is expected to provide direct employment to 30,000 and indirect employment to 45,000, is projected to earn revenues to the tune of $500 million over a period of five years, a company press release said.

More Stories on : Infrastructure | Textiles | Andhra Pradesh

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