Leading textile producer Mahavir Spinning Mills Ltd informed that company is planning to invest Rs 1,600 crore for its expansion-cum-modernisation plan.
It also plans to double its capacities in fabric processing.
Ludhiana-based Mahavir Spinning also stated that the implementation of these projects will be in phases and was expected to extend up to 2007-08.
The company plans to expand and modernise its existing capacities of spinning, weaving and fabric processing at Himachal Pradesh and Punjab involving a capital expenditure of around Rs 540 crore, it said.
Mahavir Spinning also plans to double its capacities in fabric processing with appropriate capital investments in spinning and weaving by setting up of additional facilities in Madhya Pradesh involving a capital expenditure of around Rs 1075 crore, it added.
marketing@alchempro.com
