Scheduled to commence production by March 2024, the mega factory is anticipated to create more than 2,000 jobs over the next four years
Bengaluru: Homegrown activewear brand TechnoSport has signed a memorandum of understanding (MoU) with the Tamil Nadu Government to establish an activewear factory in Erode district, the company said in a press release on Thursday.
The agreement, formalised during the Tamil Nadu Global Investors Meet, outlines TechnoSport’s commitment to manufacturing technical activewear fabrics under the ‘Special Scheme for Technical Textiles 2023’ at this facility.
“We are pleased to collaborate with the developmental initiatives of the Tamil Nadu government. The state’s well-established industrial ecosystem, advanced infrastructure, and business-friendly policies offer numerous opportunities that not only help us in reaching our goals but also contribute significantly to the state’s overall progress,” said Sunil Jhunjhunwala, director at TechnoSport.
The cutting-edge facility, is expected to start production by March 2024, will specialise in technical textiles, harnessing technologies from Germany, Japan, Italy, and Taiwan. Boasting a daily capacity of 25 tons, the mega factory will create more than 2000 jobs over the course of the next four years.
The partnership endeavors to enhance the state’s economy through revenue generation and employment creation and it aligns with Tamil Nadu’s ambition to achieve a trillion-dollar economy.
