Suryalata Spinning plans giant leap in capacity expansion
13 Jan '06
1 min read
Suryalata Spinning Mills Limited is targeting a turnover of Rs 500 crore by 2009-10.
To achieve this, it is increasing its spindles capacity and setting up a weaving and processing unit investing Rs126 crore.
It has a proposal to increase capacity of its spindles by 45,000 by investing Rs91 crore by December 2006.
It is setting up a weaving and processing unit having 50,000 metres per day capacity, at an investment of Rs35 crore by March 2007.
Garment unit with a capacity of 10,000 trousers per day is planned to be set up at the cost of Rs25 crore, conveyed V K Chakravarthy, General Manager (Finance).
He said the company will raise Rs29 crore through preferential allotment of equity, Rs74 crore through term loans and Rs23 crore through internal funding.
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