Indian fabric and readymade garments manufacturer Kitex Garments is planning to invest 910 crore rupees ($129 million) in an expansion project.
Kitex Garments said that it will be adding capacity across the value chain by rising knitting and processing capacity to 80 tonnes each and is extending the sewing production capacity.
The company added that it will also branch out into new product lines like socks for children, baby diapers and baby wet wipes, aside from establishing a cotton spinning mill with a capacity of 80 tonnes per day as part of vertical assimilation.
The extension project will help Kitex reach revenues of $306.9 million by 2024 to 2025 with an average growth of more than 20 percent every year from the $79.2 million revenues in 2017 to 2018.