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KOLKATA: Eastern Silk Industries Ltd would invest Rs 80 crore at its Bangalore plant for manufacturing velvet and jacquard fabrics, a company official said.

Talking to reporters after the company's annual general meeting here on Wednesday, CEO of Eastern Silk, Mr G Venkatesh said that the new plant would be operational by May 2009.

He said that these fabrics were needed for home furnishing, the market size of which was around Rs 1,000 crore. Major players in the home furnishing sector were Bombay Dyeing and Welspun.

Mr Venkatesh said that this new plant would result in 10 per cent to 15 per cent higher sales value realisation of the company. - PTI

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