Sri Lankan textile giant South Asia Textile Industries is gearing up for a round of expansion worth US $ 1 billion. The investment will be made in the latest 5th Generation hybrid nano-technology, a leading Sri Lankan daily reported. Upgrades include high-speed knitting machines from Santoni Italy and Unitex Singapore for developing and producing new knit fabrics. Alongside these, high-end fully computerised printing machines imported from Stork will be installed. South Asia Textiles Industries Lanka Director Kenneth Wijesuriya said with the GSP+ anticipated in the coming months, the textiles and apparel industries are poised for a new decade of growth.
