China Texmatech Co. Ltd. (CTMTC), one of the largest Chinese textile machinery producer, importer and exporter, has yesterday concluded feasibility studies to set up a production base in Gujarat – India.
Mr. Wu Xiuhua, Vice President of CTMTC, who had earlier visited Gujarat with an official delegation from CTMTC in November, confirmed the same to fibre2fashion.
Fibre2fashion had earlier reported in November 2011 that the officials from CTMTC were on a visit to Gujarat and had also met the Chief Minister of Gujarat – Mr Narendra Modi and senior officials of the Industry Ministry.
“Our technical team recently visited Gujarat and has completed the feasibility studies including scouring for potential sites. They will present their report at our head office after which we will take the final decision, sometime around June 2012”, he added.
He said it was too preliminary when quizzed about the investment and the type of machinery they will manufacture.
When asked the reason for selecting India and Gujarat in particular, he said, “India has the second biggest textile industry in the world and the sector is also growing, which presents a very good opportunity for us.
“We had inspected other states like Tamil Nadu, Maharashtra and Madhya Pradesh, but we found that Gujarat has a very good electricity supply grid, good infrastructure, a very good technical pool of people and the last but not the least a very receptive government”, he concluded by saying.
The CTMTC technical team which visited Gujarat scoured potential sites, looked for potential partners for supplying parts and accessories, etc.