Arvind to set up unit in Bangladesh

Arvind, one of India’s biggest textile and apparel manufacturers, will invest Rs 270 crores over the next three years on setting up a joint venture plant in Bangladesh to increase its denim manufacturing capacity by 30 million meters. With this plant, the annual manufacturing capacity of Arvind will increase from 110 million meters to 140 million meters. For this purpose, Arvind is entering into a 80:20 joint venture with Bangladesh’s Nitol Group. Nitol also has a joint venture with the Tata Group and VIP Industries in Bangladesh.