Abhishek to set up new spinning-cum-textile facility at Budni
01 Nov '07
4 min read
Leading textile exporter, Abhishek Industries Limited plans to double its spinning capacity with a view to meet the growing demand for its products, primarily terry towels, in the international markets.
A new spinning-cum-textile facility is being set up at Budni in Madhya Pradesh envisaging an outlay of Rs 963 crore. The facility is scheduled to be commissioned by March 2009. The funds will be generated by internal accruals and term loans.
Abhishek Industries (AIL), the flagship of Rs 1500 crore Trident Group is amongst the top five terry towels producers in the world and is a leading supplier to the who's who of the international retail market including Wal-Mart, J C Penny and Harrods.
AIL exports to over 40 countries across five continents with over 75 per cent of exports to highly cost competitive and quality conscious markets of Europe and USA.
In the first phase, the Madhya Pradesh unit will support 1,00,800 spindles and 400 looms. Currently the company has a facility of 1,25,952 spindles at Barnala in Punjab which is the largest spindlage in India at one campus location.
The new facility will help the company nearly double its yarn capacity to 226752 spindles. The total production of yarn after expansion will be 180 tonnes per day placing the company amongst the top three yarn manufacturers in India. In the next phase the capacity at Budni facility will be expanded to 2,00,000 spindles.
The new yarn facility will be geared towards value-added yarns and will cater to the emerging demand for finer counts of cotton. The product portfolio of Trident yarn consists of combed, carded, open-end yarns in 100% cotton, and cotton blends.
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