Views: 0 Author: Site Editor Publish Time: 2019-06-25 Origin: Site
Aditya Birla Group plans to invest Rs 15,000 crore in Gujarat over the next three years on capacity expansion and setting up of new units, its Chairman Kumar Mangalam Birla Friday said.
The group will be making these investments in various business segments ranging from textiles and chemicals to mining and minerals.
Speaking here at the Vibrant Gujarat Global Summit, Birla said, up until now the group's investments in Gujarat "are of over Rs 30,000 crore and counting".
"We have plans to invest about Rs 15,000 crore more. This is towards expansion of our capacities, setting up of new plants," he said.
Elaborating the investment plans, he said, "Amongst our major expansion is with Grasim viscose staple fibre plant at Vilayat and Indian Rayon viscose filament yarn plant at Veraval. These will entail investments of Rs 7,500 crore."
The group currently has 15 manufacturing plants providing employment to around 26,000 people.
He said the investments on expanding group firm Grasim's chemical business will be around Rs 1,000 crore.
"About Rs 1,000 crore allocated for the mining and mineral sector and solar power," Birla added.
Moreover, the group is also increasing investment in green technologies at all of its plants as part of environmental friendly measures as part of the new investments planned, he added.
"All of these investments together run up to Rs 15,000 over a three year period," Birla said.