Monday Nov 18, 2024
Monday Nov 18, 2024
Thursday, 18 July 2024 05:07 - - {{hitsCtrl.values.hits}}
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Hirdaramani Group, a leader in apparel manufacturing and sustainability, yesterday announced its latest milestone in advancing sustainable apparel production with a significant Rs. 10 billion investment in a cutting-edge new textile mill, ‘Mihila Tex’ in Pannala.
This state-of-the-art facility will play a pivotal role in reshaping the future of the apparel industry and bolstering Sri Lanka’s position as a sustainable manufacturing hub.
The Group will collaborate with Chinese owned Hengda Textiles in this venture, a leading global textile manufacturer and technical partner renowned for its innovation and commitment to sustainability. ‘Mihila Tex’ is a part of the Hirdaramani Group’s long-term strategy to strategically grow its apparel business in Sri Lanka and strengthen its local value chain to minimise the extensive outflow of foreign exchange for raw material imports, while providing optimised apparel solutions to its customers worldwide.
Hirdaramani Group Chairman Vinod Hirdaramani said: “The investment in ‘Mihila Tex’ comes at a strategic point in our long-term growth journey. Our commitment to boosting Sri Lanka’s apparel industry remains a priority – as reinforced by high value investments such as these – where the industry will benefit from Hengda Textiles’ advanced expertise and best practices in manufacturing. We are also happy to have the opportunity to enrich the livelihoods of over 800 employees and to extend further impact across the community through our presence in Pannala.”
Hengda Textiles Chairman Zheng Jianfan said: “We are happy to embark on this partnership with the Hirdaramani Group to establish our presence in Sri Lanka, a renowned global apparel hub. We believe that this new textiles venture, supported by the financial backing of the Hirdaramani Group, will help the industry in its upward growth trajectory by offering sustainable, faster, and advanced apparel solutions to customers worldwide. We look forward to leveraging the strengths of the Group and the industry as we forge ahead with this long-term partnership over the ensuing months.”
The green manufacturing practices adopted by ‘Mihila Tex’ will be in line with Hirdaramani’s commitment towards its Future First Sustainability Agenda. Through its set targets, the Group remains committed to responsibly conducting its operations, protecting the planet, and positively impacting communities in which it operates. ‘Mihila Tex’ is set to be fully operational by 2025.
Key highlights of the joint venture and ‘Mihila Tex’ in Pannala include:
1. Rs. 10 billion investment: This significant investment will be utilised to develop a state-of-the-art textile mill that integrates the latest advancements in sustainable technologies and practices to minimise energy consumption, reduce waste generation, and optimise resource management.
2. Water conservation: Understanding the critical importance of responsible water usage in textile production, the mill will incorporate advanced technology in water recycling and purification systems to minimise water consumption.
3. Renewable energy: The facility will be powered by renewable energy sources, aligning with both, the companies' commitment to reducing carbon emissions and contributing to Sri Lanka's renewable energy goals.
4. Green certification: Hirdaramani Group and Hengda Textiles intend to obtain internationally recognised sustainability certifications for the mill, affirming their shared dedication to environmentally responsible manufacturing.
5. Job creation: The establishment of the new mill will create numerous employment opportunities, positively impacting the local economy and supporting the livelihoods of many Sri Lankans.
