The US $ 26 million expansion project of Teejay India has been completed, as confirmed by Pubudu De Silva, CEO, Teejay Lanka.
The Group is adding 20 tonnes fabric capacity a day to serve customers with on-time deliveries.
The company is located in the Brandix India Apparel City, a Special Economic Zone with 100 per cent export-oriented units involved in the integrated apparel supply chain at Visakhapatnam, Andhra Pradesh, India.
Recently, the group informed that Teejay Lanka PLC has reported a revenue milestone of US $ 250 million at Group level for FY 2021-22.
“This is [India expansion project] the foundation for our US $ 300 million target and we now look forward to growth beyond that figure,” commented De Silva, explaining, “Teejay India is extremely important to us as a strategic location because India is an apparel hub and enables us to be well-positioned to gain from the anticipated booms in the apparel industries of countries like Bangladesh and Indonesia. Additionally, the major suppliers of raw materials like yarn, dyes and chemicals are present in India.”
According to De Silva, the Teejay Group has kicked off a few key strategic initiatives in order to enter the next phase of growth. Besides the Teejay India capacity expansion project, Teejay is moving towards an integrated ERP solution with the implementation of SAP S4 HANA across the Group, and remains confident of maintaining growth and delivering value to shareholders on a continuous basis.
