Another Spanish company, Dogi International Fabrics is also tying up with MAS to start a 'warp knitting' facility at the same park, the group said.
Both plants are expected to start producing solid and printed fabrics by the end of 2007, allowing customers to reduce costs and save time in sourcing their requirements.
MAS says the joint ventures will cater to the fast growing global intimate, active and sportswear markets, primarily supplying apparel manufacturers in the South Asian region.
"The partnership envisions the setting up of Textprint Lanka, which will fill the current gap for synthetic fabric printing in the island, and open up new business opportunities in the region’s high value fashion driven apparel business, especially in swimwear," MAS said in a statement.
Chairman MAS Ho