Toray Industries (H.K.), a leader in material technology, has partnered with apparel manufacturer MAS Holdings to establish a joint venture aimed at enhancing supply chain capabilities and exploring production opportunities in the rapidly expanding Indian market.
Named Toray MAS Apparel India, this joint venture was officially launched at a signing ceremony in June at MAS Holdings’ headquarters in Colombo, Sri Lanka. The event was attended by Teruo Funahashi, managing director of Toray Hong Kong, and Suren Fernando, CEO of MAS Holdings.
The joint venture plans to set up a new manufacturing facility in the upcoming MAS Apparel Park Bhuinpur, located in Odisha, India. Construction of the park commenced in March 2025, with operations anticipated to begin in early 2026.
The facility is designed to cater to current and potential clients in the region, addressing the growing demand for high-quality textile products.
Teruo Funahashi remarked, “Toray MAS Apparel India will contribute to local employment and economic growth by manufacturing advanced, top-quality offerings. The company will serve as a garment stronghold in India for Toray and MAS Holdings, reinforcing their partnership by deploying strategies that capitalize on their capabilities.”
This partnership will leverage MAS Holdings’ extensive experience in apparel manufacturing combined with Toray Industries’ advanced material technologies to create innovative products. The Toray MAS Apparel India joint venture is expected to boost economic growth and job opportunities in Odisha.
The upcoming facility is set to incorporate renewable energy solutions, such as rooftop solar panels, and will utilize energy-efficient technologies across its operations. Additionally, it will feature advanced water and wastewater management systems.
The design of the facility emphasizes universal accessibility and environmentally responsible practices for waste and chemical management.
Suren Fernando commented, “The Odisha facility will play a key role in supporting our customers’ evolving needs, driving innovation and contributing to regional economic development. In today’s global economic landscape, strategic partnerships like this are key to enhancing our capabilities and continuing to deliver value-added solutions to our customers.”
