Raglan to set up Rs 35 cr cloth unit

A Chandigarh based top real estate group 'Raglan' is planning to spread its business to Himachal Pradesh by setting up a Rs 35 crore non woven cloth unit in the hill state.

"We are setting up a polyurethane (PU) and polypropylene (PP) non woven cloth manufacturing unit in Himachal soon," said Raglan's Managing Director Vikas Singal.

"This non-woven cloth is widely used in various sectors including agro products, healthcare, automobile sector, garments industry, sport goods, shoe industry and household equipments," explained Singal.

Although the exact location of the plant hasn't been disclosed, the Ragala Lethextile unit is expected to begin production by the end of the year.

"Raglan has also recently taken over the Uttaranchal based Arpan Vinyl's firm. The plant is now producing and exporting PVC films," he said.

Raglan plans to diversify into real estate business in Himachal by building shopping malls and hotels in the state. It plans to enter the capital market with an initial public offering by 2006 end.