New Diamond Woollen Mills, Amritsar, has planned to build the latest integrated unit with fibre-dyeing, spinning, weaving and processing with initial capital of about Rs 4 crore, to manufacture about 2.5 million meters per month, early next year.
The proposed unit would adhere to the ISO and other international standards, developing specific software for operation, and hiring consultancy services for management services, of the company, said Director Vibhu Mehra.
At present three units of the company manufacture woollen melton fabrics, tweeds, over coating fabrics, jacketing fabrics, and many other exclusive fabrics with a total capacity of around 400,000 meters per month.
Mehra said they plan to increase the capacity of the garment house at Delhi from the current 100,000 units per year to 300,000 units per year, investing Rs 10 crore next year. They plan to go public in 2007 and retailing of garments and fabrics is also on the cards.
The company has achieved a turnover of Rs 40 crore in the previous financial year and with increased capacity and modernization in two years it hopes to achieve turnover between Rs 60 to 65 crore this year.
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