Textile major Trident Group plans to invest Rs. 3,600 crore for setting up a new manufacturing unit and expanding existing yarn facilities at Budni in Madhya Pradesh. On the back of the planned expansion, the group is aiming to double its annual turnover to around Rs. 9,000 crore in the next three years. “The expansion project of the yarn spinning facilities is being implemented with an investment of Rs. 1,200 crore and the balance (Rs. 2,400 crore) is for an integrated textile facility,” commented Rajinder Gupta, Group Chairman, Trident. “The expansion is expected to be completed by third quarter of 2013 and the new unit will be one of the largest integrated home textile manufacturing facilities in the world,” Gupta claimed. The facility will produce terry towels, bed sheets and yarns.
The group exports terry towels and bath robes worth Rs. 1,200 crore to global retailers like Walmart and JCPenny in 76 countries, mainly in the US and Europe. In the domestic market, the group is aiming to increase its market share from around 5 per cent at present, he said. The group has also tied up with Future Brands for promotion of its towel brand within India. Trident’s current production capacity is 1.45 crores of towels, 90,000 pieces of bathrobes and 7,500 tonnes of cotton and blended yarns per month. “Post expansion, the capacity will get doubled,” concluded Gupta.
