Gokaldas Exports has entered into Memorandum of Understanding with Karnataka on for setting up apparel manufacturing units.
Gokaldas Exports rallied by about 5 percent in morning trade on February 19 after the company said it has entered into Memorandum of Understanding with Karnataka on for setting up apparel manufacturing units.
The units will be manufactured over a period of next five years in Ballary district involving an investment of approximate up to Rs 80 crore, which is likely to generate approximately 4,000 new jobs, the company said in a filing on the exchanges.
The said investment is however subject to such terms and conditions as requested and sought by GEL including appropriate infrastructural support and relevant incentives and subsidies being made available to GEL by the government of Karnataka, it said.
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