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Sutlej Textile to invest Rs 1.75bn for expanding J&K plant
06
Feb '14
Sutlej Textiles and Industries, one of the largest yarn, fabric, garments and home textiles manufacturers in India is planning the expansion of its Jammu and Kashmir (J&K) manufacturing unit with an investment of Rs. 1.75 billion.
 
SK Khandelia, CEO and president of Sutlej, said the company has been focusing on modernizing its units and at present is investing in expanding the dyed yarn unit in Jammu and Kashmir, reports The Hindu Business Line.
 
Sutlej has taken a term loan of Rs. 1.31 billion and the other Rs. 440 million would be raised from internal accruals, he added.
 
The textile firm would be adding 31,000 spindles to the existing 260,000 spindles operating at the Jammu and Kashmir plant.
 
Mr. Khandelia said the company is targeting a turnover of Rs. 18.40 billion this fiscal and is also exploring opportunities in technical textiles segment and specialized purpose textiles.
 
A member of the KK Birla Group, the Sutlej Textiles and Industries is currently being headed by SC Nopany. The Rs. 15 billion firm has three more manufacturing units, one in Rajasthan and two in Gujarat, besides the Jammu and Kashmir unit.
 

Fibre2fashion News Desk - India

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