Date:19/09/2006 URL: http://www.thehindu.com/2006/09/19/stories/2006091908711600.htm
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Business

Carrera Holdings' investment proposals

Special Correspondent

Garment processing facility to be set up

  • Rs. 650 crore planned at Chincholi Textile Park
  • Service centre in Mumbai proposed

    HYDERABAD: Carrera Holdings Inc., a leading textile infrastructure financing company, has decided to invest about Rs. 1,200 crore in developing infrastructure for the growing textile sector in India. The company plans to invest Rs. 650 crore at the Chincholi Textile Park in Solapur, Maharashtra, where it will set up one of the largest garment processing facilities with a capacity to process 2.5 lakh pieces a day. According to Carrera Holdings Chairman and CEO, Vivek Jacob, the investments would be made within the next 40 months.

    Mr. Jacob told reporters on Monday the company proposed to set up a service centre in Mumbai to assist entrepreneurs and members of the Indian Textile Parks Consortium besides establishing an `idea factory' in association with the engineering university of Milan.

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