Himatsingka Group, an integrated textile company of the Rs. 2,500 crore is moving ahead as it is planning to expand its manufacturing facilities with an investment of Rs. 1,281 crore. The company’s board of directors approved the proposal. With this expansion, its sheeting capacity will double to 46 million metres per annum, while it will create new capacity for producing 211,000 spindles per annum and 25,000 tonnes per annum of terry towels manufacturing, at Hassan.
The expansion involves backward integration into spinning and commencement of terry towels business. It will be carried out at its existing facility at Hassan in Karnataka over the next three years. Himatsingka has already received in-principle approval from the Karnataka Government on its proposed investment at Hassan. The company possesses 110 acres land at Hassan, where it operates its second plant. It has applied to Karnataka Industrial Area Development Board for fresh land for expansion. Having corporate headquarter in Bengaluru, it too has offices in various countries.
