GHCL to invest Rs 90 crore to increase spinning capacity
10 Mar '06
1 min read
Gujarat Heavy Chemicals Ltd's (GHCL) priority is to consolidate operations after its acquisition of US-based Dan River for home textile business.
It has initiated the process for increasing its spindle capacity from 85,000 spindles to 1,40,000 with an investment of around Rs 90 crore said Nikhil Sen, Senior General Manager, Finance and strategy GHCL.
The recently established home textile unit at Vapi is a greenfield project specializing in wide-width fabric with commercial production commencing soon.
It will satisfy growing demands of global trade, with consolidation of brand portfolio and help promote Dan River brand in western markets, he said.
GHCL plans to use merger and acquisition options to consolidate its business.
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