Aditya Birla Fashion And Retail invests INR 114 crore to initiate Odisha manufacturing plant
- Published | 21 February 2019
Aditya Birla Fashion Retail plans to set up new manufacturing facility with an investment of Rs 144 crore; will drive the Textile Industry globally.
India: Mumbai-based Aditya Birla Fashion Retail Ltd is all set to set up a new apparel manufacturing plant in Rayagada district of Odisha with the investment of INR 114 Crore. This manufacturing plant will have the capacity to produce 3.6 million pieces of apparel per annum. The approved projects encompass a range of industries such as downstream steel and aluminum, food processing, hospitality, iron and steel, plastic pipes and fittings among others. This will be the second apparel manufacturing unit of ABFRL in Odisha followed by the first which was set up in November last year in Bhubaneswar.
In the proposal, the company indicates that the total funding of the new up-coming plant will be financed 30% by equity and balance 70% by term loan. The project will be executed within 24 months from the date of approval. ABFRL sells in-house brands such as Louis Philippe, Allen Solly, Peter England and also runs the fashion retail chain such as Pantaloons. The company’s first unit in Odisha has a capacity of around four million shirts per annum providing employment mostly to women.

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