The Belgium-based Beaulieu International Group is setting up a Rs. 100-crore technical textile plant in Uttar Pradesh. The project entailing an investment of Rs. 100 crores would be through a joint venture with its Indian partner, the Lucknow-based Indtex International. Beaulieu would have majority stake in the project.
The Vice President and CTO of the Beaulieu International Group, Mr. Guy Verrue, along with the Managing Partner of Indtex International, Mr. Iqbal Siddiqui, recently met the Principal Secretary, Infrastructure and Industrial Development, Mr. Anil Kumar Gupta, to discuss the project.
Mr. Siddiqui said that they received assurance of full co-operation from the State Government and that work on the plant would begin shortly.
The $1.5 billion Beaulieu International Group, a leading global player in floor covering business, is also setting up a plant in China at an investment of Rs. 250 crores.
The UP plant is coming up at Dewa Road near the State capital for which land has already been acquired by the company. It would manufacture extrusion of PP granules into yarn and weaving carpet backings. The other technical textiles to be used in flooring and other material for both the domestic and export markets would also be manufactured.
The product being currently imported would find ready market among carpet weavers and flooring material manufacturers.