Press release from Business Wire India
Source: NSL Textiles
Tuesday, August 31, 2010 05:58 PM IST (12:28 PM GMT)
Editors: General: Consumer interest, Social issues; Business: Textiles
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NSL Textiles to Inaugurate State-of-the-Art Textiles Process House
Dr. K Rosaiah, CM of Andhra Pradesh to inaugurate the Rs. 300 Crore facility near Guntur 1,20,000 Meters per Day capacity NSL to launch first branded apparel 'Constello' by Deepavali
Hyderabad, Andhra Pradesh, India, Tuesday, August 31, 2010 -- (Business Wire India) -- NSL Textiles, part of Rs 1500 Crore NSL Group, has brought to light the inauguration of its State-of-the-Art textiles process house at Chandolu near Guntur district of Andhra Pradesh. The facility will be inaugurated by the Honorable Chief Minister of Andhra Pradesh Dr. K. Rosaiah on the 6th of September 2010. Honorable Minister of State for Textiles, Govt. of India, Smt. Panabaka Lakshmi and Ministers of Government of AP will attend the event.
The output of the plant is projected at 1,20,000 Meters per day initially, which is proposed to be doubled in the next two years. It also houses 100 looms for weaving dyed yarn. Investment to the tune of INR 300 Crore has already been made with further plan to invest about INR 250 Crore.
Speaking on the occasion, Mr. Mandava Prabhakar Rao, Chairman, NSL Group, said "Textile business is going to play a major role in realizing our goal for the Group. With our strength of "Cotton to Clothing", we will offer customers the unique value proposition of full process control in the value chain. Keeping this in mind, we have made significant investments to the tune of INR 1100 Crore in Ginning, Spinning, Weaving, Processing and Garmenting. With our Group's traditional strength in Cotton seeds, cotton cultivation and cotton selection and the seasoned team, our textile business is poised to become a major Asian player in the industry."
Mr. Myneni Giridhar, Vice Chairman, NSL Textiles, said, "We are aggressively pursuing our vision to become the best integrated textile company. With the present capacities in ginning, spinning and weaving, the first three steps of value chain; we are already a major player in textile industry. Process house and garment manufacturing are the next logical steps to complete the value chain. With our strength in cotton and the fully integrated operations, we will be best placed in the industry to serve our customers - both domestic and foreign. Our branded Apparel 'Constello' catering to the domestic market will be launched by Depavali -2010."
The textile processing house at Chandolu is one of the largest in South India and equipped with State of the Art, unique Effluent Treatment Plant (ETP), which is capable of recycling as high as 90% of the water usage against highest of 80% in the industry.
Size of the Indian textiles industry is estimated around INR 3, 00, 000 crores and it provides employment to 3.5 crore people, second largest sector after agriculture. Textiles industry contributes four percent to national GDP and 13.5 per cent of exports earnings come from it.
About NSL Textiles:
NSL Textiles Limited is part of the NSL Group promoted by Mr. Mandava Prabhakar Rao. The company has set up State-of-the-Art facilities in Andhra Pradesh with the unique concept of "Cotton to Clothing" and is poised to emerge as one of the biggest players in the cotton textiles and apparel arena. NSL Textiles value chain covers all the operations from the extraction of cotton lint to garment manufacturing. Its facilities for ginning, spinning, weaving, processing and garmenting are equipped with latest technology machineries and manned by experienced workforce. NSL Textiles website: www.nsltextiles.com
About NSL Group:
NSL Group is a Rs. 1500 Crore turnover business group and has a diversified presence across various sectors like Seeds, Cotton, Power, Textiles, Sugars and infrastructure. Mr. Mandava Prabhakar Rao is the Chairman of the Group. Nuziveedu Seeds Private Limited, the flagship company of the Group is a pioneer and leader in the Indian seed industry with over 45% market share in cotton seeds. It is also the largest seed company in India with a turnover of more than Rs. 600 Crores. Buoyed by the tremendous success in seeds business, NSL Group has widened its reach and diversified into other agro-based and allied industries. Major expansions with capital outlays of over INR 10000 Crores are underway in various businesses and the Group is poised to be a significant player in the country. Upon completion, the Group turnover, which is Rs 1500 Crores now, is expected to exceed INR 8,000 Crores by 2015. As a responsible corporate citizen, the Group is in the forefront of discharging its corporate social responsibility initiatives through Mandava Foundation.
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CONTACT DETAILS
T Sreekar Reddy, Sr. Manager - Public Relations, NSL Group, Hyderabad, +91 9581412387, sreekarreddy@nslindia.com
KEYWORDS
CONSUMER, SOCIAL, TEXTILES
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