Tirupur based Ramraj Cotton, a producer of shirts, dhotis and innerwear, intends to invest one billion rupees for setting up a new weaving unit in Sankagiri in Tamil Nadu during this year. The Group currently operates five production facilities at Erode, Tirupur, Bangalore, Madurai and Coimbatore and has invested three billion rupees in these facilities so far.
According to K R Nagarajan, Founder and Chairman of Ramraj Group, the new facility would have a capacity to produce 1,50,000 metres of fabric per day. The proposed amount for investment would be raised from internal accruals, he added. The existing capacity of the group stands at 20,000 shirts, 1,00,000 pieces of innerwear and 2,50,000 metres of fabric per day.
The company looks forward to achieve an overall turnover of Rs. 10 billion by next year. Shipping its goods to Singapore, Mauritius, Dubai and Malaysia, the firm earns 5% of its overall revenues from exports. The Group is now planning penetration in northern and western states over the next two years.
