Brandix plans early start on garment city in Vizag

Sri Lanka-based Brandix Lanka Limited, which has been allotted 1,000 acres of land near Visakhapatnam by the state government to develop an end-to-end garment solutions SEZ, seems to be in no mood to wait until all the infrastructure facilities at the proposed site were developed.

Planning to commence operations as early as possible from the port city, the company has acquired over 50,000-square feet of constructed space in the Vizag SEZ besides forming a special purpose vehicle (SPV) with a Rs 50-crore corpus, officials close to the development told Business Standard.

It may be recalled that Brandix Lanka chief executive Ashroff Omar signed an MoU in July 2005 with the state industries department to develop a garment city in Atchyuthapuram mandal in Visakhapatnam district. While Brandix Lanka will hold 76 per cent equity in the proposed SEZ, the remaining 26 per cent will be held by the government.

This export-oriented apparel city, which is proposed to be developed along with the support industries, is expected to create 60,000 jobs over a period of four years from the date of commencement of operations.

Brandix is said to be roping in 15 global companies with 100 per cent foreign direct investment.

The infrastructure, including water and roads committed by the state government, is expected to take some more time to be developed in the proposed SEZ as it involves an investment of nearly Rs 40 crore.

Brandix is also planning to set up its units in Hyderabad along with Gokul Das Exports and Shahi Exports.

The government has allotted 10 acres to each of them in the Nacharam industrial area a couple of months back.

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IN A HURRY!

The Sri Lankan company formed an SPV with a Rs 50-crore corpus

Acquired over 50,000-square feet of constructed space in the Vizag SEZ to commence operations initially