(1888PressRelease)
September 07, 2007 - Mumbai: Alok Industries Limited, amongst India’s leading integrated textile manufacturers, has received the formal approval for the textile SEZ to be setup by Alok Infrastructure Pvt Ltd, a wholly owned subsidiary of the company. This approval has been received for setting up the SEZ on around 183 acres of land at Surgani, Union Territory of Dadra & Nagar Haveli, Silvassa.
The grant of conversion of the in-principle approval into a formal approval was recommended by the Board of Approval of the Special Economic Zones (SEZs) at their meeting held on August 30, 2007.
“The SEZ is very strategically located, being just three hours from Mumbai and four hours from JNPT. This will provide a boost to textile exports in a big way. The SEZ will give prominence to garmenting, made-up, embroidery and similar units which are large employment generators for the local population,” said Mr. Dilip Jiwrajka, Managing Director, Alok Industries Limited
Alok Industries will set up this highly modern and advanced SEZ for the entire textile chain of activities and also proposes to utilize about 20% of the SEZ for captive use. Upon completion, the SEZ is expected to provide employment, directly or indirectly to around 15000 people, 60% of, who would be locals. The SEZ would also improve infrastructure and increase the standard of living in and around the area.
About Alok Industries Limited
(BSE Code: 521070) (NSE Code: ALOKTEXT) (Reuters Code: ALOK.BO) (Bloomberg Code: ALOK ( @ ) IN)
Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solution providers in India. A diversified manufacturer of world-class home textiles, apparel fabrics, garments and polyester yarns, Alok will soon have annual capacities for 30000 tons of cotton yarn, 82.50 mn meters of sheeting fabric and 6700 tons of terry towels for its home textiles business, 105.00 mn meters of apparel width woven fabrics, 67200 tons of knitted fabrics and 22 million pieces of garments. The Company also has a strong presence in polyester with its annual capacity to shortly reach 125000 tons of polyester textured yarn supplanted by 182500 tons of POY / Chips through the continuous polymerization route. The company has a blue chip international customer base comprising of world renowned retailers, importers and brands.
For further information contact:
Adfactors PR, Mumbai
Radhika Sadarangani / Hemant Bohra
098200 28351 / 098202 15173
Tel: 91-22-22813565
Fax: 91-22-22813569
Email: radhika.sadarangani ( @ ) adfactorspr dot com / hbohra ( @ ) adfactorspr dot com
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