Garden Silk Mills Pvt. Ltd. Signs MoU with Gujarat Government for Major FDY Project
21 Feb, 2023
Garden Silk Mills Pvt. Ltd. (GSMPL), a wholly-owned subsidiary of MCPI Private Limited, has signed a Memorandum of Understanding (MoU) with the Gujarat Government under the state’s Atmanirbhar Gujarat scheme. The MoU outlines the establishment of an FDY spinning plant, Ancillary plant, and Greige Warp Knitting & Dyeing plant at Jolwa village, Palsana Taluka, Surat, with a total project investment of Rs. 2,553 crore.
The Phase I investment of Rs. 1,200 crore is expected to be operational by November 2023. The project is set to create employment opportunities for an additional 1,450 people and further strengthen GSMPL’s competitiveness in the Polyester Yarn segment, supporting the company’s growth and leadership in the industry.
