Gangotri to up textile output

Coimbatore - based Gangotri Textiles Limited (GTL) that owns the menswear brand 'Tibre' will be setting up its fabric production unit along with a production partner.

The unit with a capacity of 50,000 metres a day will come up by the end of December this year at the Small Industries Promotion Corporation of Tamil Nadu (Sipcot), Perundurai near Erode.

The funding will be done through the Rs 55 crore which the company raised recently through its Follow - on Public Offer (FPO).

Addressing reporters, Manoj Kumar Tibrewal, managing director, GTL said that the company is holding talks with four Bangalore - based companies in this regard.

"Trial productions are on the anvil and commercial production is likely to start soon," he added.

Of the proposed 50,000 metres a day, 30 per cent will be exported and the rest will be used for GTL's own consumption for making 'Tibre' brand of trousers and shirts. The company, hitherto, has been outsourcing fabrics, he added.