Abhishek Industries Ltd commenced production on (Unit IV - first line) from March 28, 2006, a part of its yarn spinning expansion project.
This project entails doubling of production capacity and enhancing the quality of its products - ring spun yarns and open end yarns.
Expansion of yarn spinning project at the cost of Rs250 crores will add 44,160 spindles when fully completed by end of June, 2006.
The company has contracted leading spindles technology provider Reiter Machine Works.
Leading financial institutions will particpate at funding this project alongwith Foreign Institutional Investors (FIIs) whose investment limit has been approved to 49 percent of paid up equity capital by the company.
Abhishek Industries is a large corporate business house having a turnover of more than Rs10 billion and having global operations.
Group interests include textiles, paper, chemicals, co- generation of power for captive use, construction and IT.
It has been awarded the prestigious 'International Supplier of the Year' title by the world's leading retailer Wal-Mart, USA, for the years 2001 and 2003.
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