‘The company is expecting an investment of Rs.4,500 crores'
Brandix India Apparel City (BIAC), which is developing state of the art apparel chain under one roof at Atchutapuram, about 50 km from here, will be fully operational in five years.
Stating that in the first year of its operations it had won appreciation from several clients in the US, Europe and other areas, BIAC Director Vinu Sudan told reporters here on Thursday that they were expecting an investment of Rs.4,500 crores over a period of five years.
“Once it becomes fully operational, it will create job opportunities to 60,000, mostly locals and achieve a turnover of $1.2 billion,” he said.
BIAC, the Indian investment arm of Brandix Sri Lanka is developing world-class infrastructure in an area of 1,000 acre given to it by the State Government on a lease.
At present, Brandix Apparel India, Ocean India, Pioneer Elastic India and DEB Fashions have launched their operations. Quantum Clothing India and Seeds Intimate Apparel India will begin operations shortly. This will be followed by two more units during the current fiscal.
Mr. Sudan said during the first year of operations, they could achieve an export turnover of Rs.158 crore. This is expected to cross Rs.200-crore mark by end of current fiscal.
BIAC, of 1,000 acres, has earmarked 750 acres for processing activity. As of now, Rs.200 crore has been invested on infrastructure. Four units, which will launch operations during current fiscal, will have a total investment of Rs.400 crore. He said the size of workforce, which now has 5,000 plus, would double by March, 2011.
BIAC General Manager Sunil Panwar, in response to a question, said despite downturn in the economy, they could able to put in place infrastructure comparable with any world-class integrated garment park three years after it got approval for Special Economic Zone status.
The response during first year of operations was quite encouraging and the management was confident of attracting more investors to the park shortly, he stated.