Nitin Spinners declares financial closure of Rs208 cr project
26 Jun '06
1 min read
Nitin Spinners Ltd announced the financial closure of Rs208 crore development plan that is funded through public issues, internal accruals and term debt under the Technology Upgradation Fund Scheme (TUFS).
Company also informed that the orders for machines had already been placed that are scheduled to be delivered from July 2006.
The project is expected to be operational within next 2-3 years.
Nitin Spinners produces single and multifold yarns in the range Ne 4 to Ne 40 suitable for various applications like knitted fabrics, woven fabrics, terry towels, denims, furnishing fabrics, carpets and other industrial fabrics alongwith various types of yarns.
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