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Youngone Corp pumps US$127m into new India factories

Jan 14, 2020 (MarketLine via COMTEX) --

A Korean textile and apparel company is investing INR9bn (US$127m) in setting up new factories in India's Kakatiya Mega Textile Park (KMTP).

Youngone Corp will make knitted and woven garments and technical textile products for export, with the move expected to create 12,000 direct and indirect jobs.

According to local press, Youngone plans to create eight factories in the park which is located in Warangal, Telangana.

According to KMTP promotional material, Telangana is the third-largest cotton fibre producer in India. The region is also known for its skilled textile workers and is well connected with roads and railways. The Park is being developed on a vertically integrated model to cover the complete textiles value chain. The basic concept of the Park is to offer a complete manufacturing eco-system for the textiles and apparel Industry within a single location.

Youngone Corp produces outdoor and athletic apparel, footwear and its own fabrics. It has manufacturing facilities in Bangladesh, Vietnam, China, Uzbekistan, and El Salvador.

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