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SEL Textile Park to produce 45 mn pieces of knitted garments/year

04
Jul '08
With reference to the news item appearing in a leading financial daily titled "HNIs seen holding up SEL Manufacturing", SEL Manufacturing Company Ltd has clarified to that the Company is setting up an Integrated Textile and Apparels Park at Village Sekhan Majra, District Nawan Shaher for which concerned SPV has received approvals from the Ministry of Textiles of Government of India sanctioning the Project under the Scheme for Integrated Textile Park (SITP) entitling to get maximum subsidy of 40% of total infrastructure cost for setting up the same by the SPV.

The said project has been approved by the Project Approval Committee (PAC), under Ministry of Textiles, Government of India in its meeting held on May 16, 2008. The Company received sanction of Project letter dated May 29, 2008 from Government of India.

The said textile park would be of a built up area of appx. 10 lakh Sq. feet and a manufacturing capacity of 45 million pieces of knitted garments every year and generating employment opportunities directly/indirectly for appx. 25000 people.

Further there is an expansion project of the Company for setting up of Technical Textile Manufacturing facility with an overall investment of appx. Rs 611.67 Crores to be located at Vill. Shekhan Majara, Machiwara Rahon Road, Teh. & Distt. Nawanshehar: Technical textiles facility include manufacturing of hygiene products and surgical clothing etc.

The said Project would be under Textile Up-Gradation Fund Scheme (TUFS) and would consist amongst others:
a) Setting up of (facilities to manufacture Technical Textiles having a capacity of 90 TPD) for manufacturing hygiene product i.e. wipes, diapers, sanitary napkins, panty shields and surgical clothing i.e. glows, masks, gowns etc. In addition the Company is also venturing into Geo textiles and automobile upholstery.

Further the Company has informed that the Company has already acquired land for setting up of the aforesaid Project. The said Project has been appraised by SBI Capital Markets and the Company has made proposals with various Banks for meeting out the Debt portion required for the aforesaid project and till date the Company has obtained sanction of credit facilities (for the said project) from state Bank of Patiala and Indian Bank respectively.

SEL Manufacturing Company Ltd


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