Arvind Ltd. has decided to cancel an ambitious plan to develop a Rs. 300 crores denim plant in Bangladesh which they announced in September 2010, reason being unavailability of natural gas that is a key component in denim manufacturing.
Arvind, with a total turnover of around Rs. 10,000 crores, currently has a capacity of producing 120 million metres of denim fabric per annum. To cater to the growing demand, it may now look at outsourcing from local looms apart from undertaking capacity expansion at their Ahmedabad unit. The company plans to add another 10-15 million metre capacity by next year.
