TT to invest Rs 1.5 bn for expansion

New-Delhi based TT Ltd, manufacturer, wholesaler and trading company covering the entire

spectrum of knits, garments and accessories, plans to double its current turnover to Rs 10 billion by 2014. For this purpose, it proposes to invest around Rs 1.5 billion towards expansion of its production capacity across its various business lines over the next two years. In its fiscal budget for this year, TT plans to set aside Rs one billion towards expanding the capacity of its spinning plant in Gujarat. It will also put in Rs 350 million for enhancing the capacity of its garment manufacturing unit based in Tirupur, Tamil Nadu. The present plant has a manufacturing capacity of around three million pieces of garments per month, and this expansion will push up production capacity to 10 million pieces per month.

As a part of its brand expansion policy, TT, which is already involved in streamlining its business to divert focus to branded apparels, also proposes to invest Rs 150 million in Gujarat in a project for generating power with the help of wind turbines for captive utilization. As a vertically integrated textile producer, it has operations across cotton, yarn, fabric, innerwear and apparels for men, women, children and babies.