Raymond to invest Rs 1,400 cr in Amravati unit,open 300 stores

Textile and apparels major Raymond will invest a total of Rs 1,400 crore in a phased manner in its new plant at Amravati in Maharashtra which will go on stream by this year-end.

The company has made an initial investment of Rs 200 crore for the first phase of the new unit that will produce cotton shirts, linen and denim, among others.

"Our greenfield project in Amravati is likely to be commissioned by year-end. With an initial capital infusion of 200 crore, the total investment will be about Rs 1,400 crore in a phased manner," Raymond Chairman and Managing Director Gautam Hari Singhania told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)