Welspun India, a leading hometextile manufacturer, hopes to complete its flooring project by the end of this calendar year. During the current financial year, the company has spent Rs. 372.1 crore on the flooring project till December 2018.
This will be the third extension of its ambitious project which entails a capex of Rs 700 crore. Originally, the company was planning to complete the project by the end of calendar year 2018 which was later extended to March 2019. Again the company has postponed it to this year end. However, the company has not given any specific reason for the delay in the project.
In December 2016, Welspun India had announced its foray into flooring solutions by setting up a carpet manufacturing unit. The foundation stone for the project was laid by the Chief Minister of Gujarat, Vijay Rupani. The project is coming up at in Anjar, Gujarat to manufacture carpets, area rugs and carpet tiles.
Welspun India Ltd, part of US$ 2.3 billion Welspun Group, is one of the world’s largest home textile manufacturers. With a distribution network in more than 50 countries and world class manufacturing facilities in India, it is the largest exporter of home textile products from India. Welspun is supplier to 17 of Top 30 global retailers.