The management of Suraj Textile Mills Limited plans to make long-term equity investment of up to Rs50 million in the solar power projects by way of acquisition of 5,000,000 ordinary shares of Rs10 each of the proposed S2 Solar Limited, an official document revealed. A new company in the name of ‘S2 Solar Limited’ will be formed. Based on the initial study, the company is expecting per megawatt cost of $1.5 million. Total investment has been estimated at $75 million approximately with equity i

Textile spinning mills in the region have rejected the demand from garment manufacturers in Tirupur for a cut in the prices of cotton yarn. Garment makers want mills to reduce yarn prices by 10 per kg for all counts citing the lifting of power cut in the state. "It is a time for spinning mills to revise their pricing strategy accordingly, as it was being mentioned that the increased power cost was the reason, apart from (high) cotton prices, for the increase in yarn prices," said A Sakthivel,

Bangladesh has urged the Japanese entrepreneurs to raise its import of Readymade Garment (RMG) products from Bangladesh to at least 10 percent from the existing 1.77 percent. "Japan imports RMG goods worth US$ 31.78 billion from global sources. But it imports only 1.77 percent of its total apparel import from Bangladesh," M Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told a press conference at the conference room of FBCCI here today.Among other

The garment and textile industry has taken measures to protect the environment such as implementing cleaner production programme, encouraging enterprises to apply environmental management standards and creating a good workplace for labourers, the Vietnam Economic News reported on May 29. Like many other producers, Vietnam’s garment and textile industry is facing environment pollution as the dyeing wastewater has a great amount of chemical waste disposal.Being aware of this issue, many Vietnam

Fire fighters in action as the Orchid Vipul multi storey building is aflame in Surat on Thursday. Photo: PTI A major fire broke out in a commercial building in Surat on Thursday morning. While fire-fighters are still struggling to bring the fire under control, the police said no casualty or injury has been reported in the incident. The fire erupted in the Orchid Tower on the Puna Kumbhariya road in Surat. “It was a major fire. Right now our priority is to extinguish it. A total of 19 f

A delegation of the Chinese textile and garment businesses visited Myanmar earlier this month to study and research the transfer of China’s industrial transfer to Myanmar. The 30-member Chinese delegation comprised both entrepreneurs and senior executives from large and medium textile and garment enterprises, including companies engaged in men’s formal wear, womenswear, knitwear, and textile and knitting machinery. During the visit, the Chinese team met Myint Soe and Kyaw Win, president an

Vietnam's labor market was severely affected by its recent anti-China riots, which left 60,000 local workers jobless as many foreign-invested factories were forced to shut down for an indefinite date, local media reported Tuesday. Vietnam's manufacturing hub, Binh Duong province, was among the worst-hit areas since the riots broke out earlier this month. More than 100 factories, most of whom belong to Chinese investors, were damaged to some extent. Worse still, 12 factories were completely

Paraxylene (PX) production capacity is increasing in the global market, mainly because majority of the PX is utilized for production of purified terephthalic acid (PTA), a key raw material in the textile industry for making polyester fabrics. The predictable global production of PX in 2020 will increase to 48776 thousand tons from the current level of 36532 thousand tons, states a new report “Global Polyester Value chain Market analysis & Forecast, 2014-2020”, published by Fibre2fashion.

Shri Santosh Kumar Gangwar assumed charge as Minister of State (Independent Charge) in the Ministry of Textiles. Talking to media after taking charge, Shri Gangwar said that the textiles sector has a huge potential of providing large number of jobs to the vulnerable section of the society. Specifically speaking on the issues plaguing the sector in Uttar Pradesh, he said that local artisans need push that will unlock the strengths of the region. “Zari Zardozi, carpet and many other local craf

World cotton trade in 2014/15 is forecast to reach only 36.3 million bales, 10 percent below the previous season and the lowest since 2010/11. While imports by China have supported cotton trade over the last several seasons, expectations for lower China import demand are reducing trade in 2014/15. The initial forecast represents the second consecutive decrease in global trade as most major exporters anticipate reduced shipments in 2014/15. Exports by the United States, the world’s leading ex