South Asia Textile Industries, a leading Sri Lankan textile manufacturer, plans to invest more than $1 billion rupees ($7.1 million) to expand and upgrade its facility to include the latest in hybrid/nano technology textile machinery.
With the investment, the manufacturer will add high-speed knitting machines from Santoni and Unitex to produce new and innovative knitted fabrics, and high-end fully automated printing machines from Stork.
“This large scale expansion will allow South Asia Textile Industries Lanka to reach a completely new dimension in textile manufacturing in Sri Lanka,” the company’s chief executive officer Prithiv Dorai told The Island. “Not only will it facilitate a extensive benefits to local apparel manufacturers in terms of speed and flexibility, but it will also result in a greater availability of the latest fabric styles and colors, in keeping with international trends.”
South Asia Textile has also invested in a new testing lab to accommodate what it calls “the next generation of challenges.” Leading brands like Marks and Spencer, Next and Limited Brands, according to The Island, have already accredited the lab.
And in keeping with international compliance standards, South Asia Textile is close to achieving the Zero Discharge standard for eliminating industrial waste.
The company has seen record growth in recent years, recording an almost 250 percent year-on-year growth for the year ended March 2015 and that growth is only expected to continue.
“With the new administration of the Government of Sri Lanka, and GSP+ anticipated in the coming months, the textiles and apparel industries are poised for a new decade of growth, offering unmatched products, in terms of range and quality, as well as greater levels of competitiveness, when compared to other countries in the South Asian region,” The Island reported.