Initiatives >> Future

Bombay Rayon Fashions Ltd plans to invest Rs 1,100 crore in Maharashtra for setting up fabric and garment making facilities. The company signed a memorandum of understanding with the Government of Maharashtra. New facilities will come up at Tarapur, Islampur, Ichalkaranji, Latur, Nanded, Osmanabad and Amravati.About 32,000 direct and 50,000 indirect jobs will be created. The company has Rs 400 crore as equity capital, the balance will be obtained as debt, which has already been tied up. Yarn dyeing and fabric processing will see an investment of Rs 450 crore each while garment manufacturing will get Rs 200 crore. Production at two of the garment plants at Osmanabad and Ichalkaranji in Maharashtra has already started. The greenfield units at Tarapur, Islampur, Latur and Nanded would raise the company’s daily fabric processing capacity by 500,000 metres and garment capacity by 100,000 units.