Welspun India plans to expand the capacity its home textiles and flooring businesses with an investment of around Rs 800 crore over the next two years. The country's largest home textiles manufacturer will invest Rs 656.5 crore in its home textiles business expansion during FY'22-23. Its plans include augmenting its towel manufacturing capacity by 20 per cent to meet the growing demand from the overseas customers.
Welspun has also approved an additional investment plan for its Vapi, Valsad (Gujarat) based plant. The company aims to expand the capacity for rugs by 80 per cent with an investment of Rs 656.5 crore over FY22 and FY23. Besides, Welspun Flooring has also approved a capex of 143.6 crore for de-bottlenecking and rebalancing its facility at Telangana, including setting up of a 25 MW renewable energy power plant and to further the group's commitment towards ESG by embedding sustainability and circularity at every stage of its value chain.
Welspun has invested Rs 281 crore in capex in the current financial year and the total investment during FY'22 will be Rs 750 crore including the investment approved by the board on Saturday for the home textiles and flooring businesses. The company is a part of the Welspun Group, which has businesses interests in sectors including - line pipes, home textile products, infrastructure, warehousing, steel, oil & gas, advanced textiles and flooring solutions.
