Ahlstrom has signed a Memorandum of Understanding with Mundra Special Economic Zone (SEZ) in Gujarat, India to purchase a five hectare land parcel in the Textile and Apparel Park. The purchase is a step ahead in Ahlstrom's plan to start production of fiber-based materials in the Mundra SEZ to serve both export and domestic markets of the FiberComposites segment. The parties have agreed not to disclose the purchase price of the property.
Ahlstrom already operates a liaison office in Delhi, India which markets a wide range of products including specialty papers, nonwovens (medical, food, wipes, technical), filtration and glassfiber tissue and specialty reinforcements.
Mundra SEZ is one of the largest SEZs in India with approval for 100 square kilometers of land and plans to establish a number of industrial parks. The Textile and Apparel Park covers 47 hectares and is partly funded by the Indian government. Mundra is strategically located in the Western State of Gujarat near the city of Bhuj. Mundra SEZ offers significant tax, infrastructure as well as logistics advantages and is located adjacent to Mundra Port.