 Abhishek Industries Limited announced the commencement of commercial production of its Yarn Spinning Unit–V and laying of foundation stone of its Unit – VI at Budni, Madhya Pradesh. The Yarn Spinning Project in its first phase comprises 50,400 spindles with the production capacity of 7098 MT of yarn. This project is being implemented in a phased manner and on completion of its second phase, the total of 1,00,800 spindles shall be operational at the outlay of Rs 373.70 crores.
With this commissioning, the total capacity of the Company has increased to 1,76,352 spindles and 1920 rotors. The site is ideally located to enable progressive business growth due to its proximity to port, easy availability of skilled labour, cheap power cost, better quality of raw material and conducive climate conditions.
Further, the Company plans to penetrate in the southern markets and shall encash the locational advantage. The Company targets the incremental turnover of Rs 110 crores with the commissioning of this unit and has created employment opportunities for around 600 persons.
This new unit has adapted latest state of the art technology and has flexible product lines and can make variety of products. Apart from manufacture of 100% Cotton Yarn the unit is capable to manufacture value added products like Elastane Yarns, Slub Yarns, Compact Yarn etc.
“The unit so commissioned is the first industrial venture of the Company in Madhya Pradesh. The Company has already established itself in Punjab and is now expanding its base outside Punjab to be globally competitive”, said an Official Spokesman of the Company. The project has opened new vistas of development and has definitely created new employment avenues in the area and shall go a long way in the social development thereby bringing prosperity to the region. |