Welspun India plans to invest Rs 2,500 crores to expand manufacturing capacities over the next year. The home-grown textile major has set up the country’s largest spinning facility at Anjar with an investment of around Rs 800 crores. The new facility will be instrumental in doubling Welspun's spinning capacity to over 3,00,000 spindles, thereby fulfilling nearly 70 per cent of the fine and super fine yarn requirements of the company. Welspun will invest in modernisation and expansion of its towel manufacturing capacity at its Vapi unit in Gujarat.
The Rs 2,500 crore expansion will be funded through internal accruals and debt. While Rs 700 crores would be contributed from the company's side, the remaining will be raised through borrowings. Currently, export contributes almost 97 per cent of Welspun’s total textile revenue of over Rs 6,000 crores. Its export markets are US, Europe, Japan and Australia.
The Welspun Group has registered a CAGR of 30 per cent over the last decade. It is a fully integrated player within the pipes, plates and coils and the home textiles sector. It also has a presence in other verticals such as steel, infrastructure and energy. In the home textiles sector, Welspun is the largest integrated towel manufacturer in Asia.
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