Home / Knowledge / News / Textiles / Sintex to set up 320000 spindles spinning plant in Gujarat
Sintex to set up 320000 spindles spinning plant in Gujarat
24
Jun '14
Gujarat based Sintex Industries Ltd is setting up a big spinning unit which will house 320,000 spindles at a location in Pipavav – Gujarat.

“Sintex which till now used to produce high-end structured dyed yarn shirtings at its plant in Kalol will invest Rs 1800 crores in the new spinning project expected to begin full commercial operations in fiscal 2016-17”, a senior spokesperson at Sintex told fibre2fashion.

Providing more details, the official said, “We are going to produce high-end cotton yarn, 70 percent of which will be earmarked for exports, mainly to China and the rest will be sold in the domestic markets.

The FY’14 turnover of textile division of Sintex Industries was Rs 546 crore. Once the new spinning project is fully commissioned, the turnover from the new plant is expected to be in the range of Rs 1,600 to 1,800 crore. At the same time Sintex expects its fabric division sales to grow annually at 12% over FY’14. 

TUFs, the Gujarat State Textile Policy and the huge demand for yarn from China proved to be the impetus for setting up the new plant, the official revealed.

He added, “Indian labour cost is cheaper and with subsidised interest cost under TUFs and state subvention under Gujarat Textile Policy, our interest cost is below 3 percent. Gujarat is power surplus and there is a subsidy of Rs 1.80 per unit which is important for yarn manufacturing, since it is power intensive. 

“Besides, since Gujarat produces 65% of India's cotton, our project in Pipavav will incur lower logistics cost related to sourcing cotton and also for exporting yarn, as we are just 20 kms away from the port. Other than that, we can avail VAT benefit on the project. All these factors led us to setting up this new project in Pipavav”, he concluded by saying. 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Textiles | On 29th Jun 2017

Vietnam’s textile & garment exports cross $10bn till May

Vietnam earned $10... billion from textile and garment exports in the ...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X