Brandix to invest Rs.250 Cr.
Brandix India Apparel City signed four MoUs with the State Government of Andhra Pradesh during the CII Partnership Summit-2017 organized in Visakhapatnam on 27th -28th January.
The MoUs herald the establishment of two Chinese companies namely Leung Fung Textiles and Tian Yuan, and two Indian companies namely Aggarwal Elastics and Manav Packaging in the Textile Park located at Atchutapuram near Visakhapatnam.
The MoUs, on behalf of the four companies, were signed by Mr Dora Swamy, Indian Partner of Brandix in the presence of Mr Chandrababu Naidu, Chief Minister of Andhra Pradesh.
Entailing a total investment of around Rs 250 crores, the new companies are expected to generate around 3,000 new jobs for both men and women in the Textile Park. The companies would be establishing manufacturing units within the Brandix Park to manufacture and export lace, apparel, elastics and packaging material.