INDIA: Alok forms real estate venture
Indian textile firm Textile Alok Industries Ltd has taken a 50% stake in Ashford Infotech, a part of the Ashford Group, for the joint development of real estate projects.
It has acquired the stake through wholly owned subsidiary Alok Infrastructure, it told the Bombay Stock Exchange.
The venture has already purchased the Bhandup land of tyre maker Ceat Ltd, measuring around 6.92 acres for around INR1.30bn (US$30m) as its first property development.
According to a report today (13 March) by news agency Reuters, the JV will build a number of offices and set up a 183-acre textile special economic zone in Silvassa.
Sectors: Fibres & fabrics
Help test our new apparel sourcing tool.
- What TTIP might mean for US, EU textiles & apparel
- Unlocks for the future fashion sourcing landscape
- Four steps to reduce product defects
- Geo-political uncertainty and how to survive it
- EU eyes mandatory due diligence for apparel supply
- US Q4 in brief – PVH Corp, J Crew, Perry Ellis
- H&M, VF Corp and Levi among most ethical companies
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- PVH Corp to acquire e-commerce retailer True&Co
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective