Ginni Filaments to expand spinning capacity

November 10, 2005 - India

Ginni Filaments Ltd, manufacturers of cotton yarns and processed knitted fabrics announced the expansion of its spinning capacity and establishing new manufacturing units for non-woven fabrics and cotton yarn by investing Rs 204.24 crore.

A rupee term loan through the bankers under Technology Upgradation Fund Scheme (TUFS), and Rs 60 crore would be accrued by issue of equity shares at premium in first week of December will finance the plans, said Shishir Jaipuria, Ginni Filaments Ltd Managing Director.

A Rs 130 crore worth unit for manufacturing 12,000 metric tons non-woven fabrics every year will come up near Surat, with implementation plans by October 2006.

The company's spinning capacity at Chhata in Uttar Pradesh will be stepped up from 15,400 to 22,320 metric tons per annum, he said.

Also, a garment-production plant at Faridabad in Haryana with a capacity of 15,000 pieces of garments per day is expected to be completed by April 2006.