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Textile companies in Peru have invested nearly US$700 million in last 5 years

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Andina

Textile companies have invested nearly US$700 million in the last five years, and this amount will continue growing in the future as it is boosted by the dynamism of the sector, the National Society of Industries (SNI) reported Monday.

“However, despite international crisis that affected Peruvian economy this year and also unfair competition, companies of the sector have continued investing and it will be the same in the future,” the Manager of the Textile Committee of the SNI, Martin Reaño said.

In the last 5 years, textile sector companies have invested, on average, nearly US$ 140 million per year, due to the Free Trade Agreement (FTA) with United States and the increased demand of other markets, such as Venezuela.

He pointed out that the inauguration of the Topy Top yarn manufacturing in Lurin, south of Lima, is proof of this dynamism.

The company invested US$ 24 million in cutting edge machinery and the plant has a capacity of nearly 20 tons per day of 100 percent cotton thread.

“The production of about 30,000 spindles will provide appropriate and competitive support throughout the Topy Top organization that nowadays employs about 6.700 people,” he added.

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