Nahar Industrial to invest Rs 800 cr for expansion
27 Jan '06
1 min read
Nahar Industrial Enterprises Ltd (NIEL), manufacturing yarn, processed fabric and readymade garments, has lined up Rs 800 crore for capacity expansion in Bhiwadi and Lalru, Punjab, during next two years.
The expansion project will be completed in two phases. The first phase by March 2006 and the second by March 2008, said Kamal Oswal, Managing Director, NIEL.
Capacity increase of yarn and processed fabrics units, besides setting up three power plants 45 MW capacity will be undertaken for expansion.
NIEL plans to increase its exclusive retail outlets of Cotton County to 300 by March 2008 from 58 retail outlets at present.
The funds for expansion will be through Foreign Currency Convertible Bonds (FCCB) of $45 million, term loans and internal accruals, said Oswal.
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