Mohit Industries Limited, a Surat based company, informed during board meeting that it is investing Rs90 crores in growth and diversification plans.
It said a US company has placed an export order for obtaining ten lakh meters of German tissue brasso fabric worth Rs9.50 crores.
Company said expenditure for these plans will be accrued through term loans and placement of equity shares with banks, financial institutions, FIIs and mutual funds.
Company would raise art silk grey fabric production capacity by 100 percent and yarn processing capacity by 70 percent. It will also enter furnishing fabric and garment industries by setting up a garment production facility in Special Economic Zone.
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