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News Flash
Rajasthan Spinning & Weaving Mills to invest 4bn rupees on expansion
14 Jun '05
1 min read
Leading yarn and fabric producer Rajasthan Spinning and Weaving Mills Ltd. unveiled its intensions to enter the home textile sector with investing 4 billion rupees ($91.5 million).
The company stated that the invest will be in two phase first will be of 2.1 billion rupees to establish a factory to manufacture terry towels and 1.8 billion rupees in the second phase. Initially the towels will be exported to the foreign countries.
The funds would be raised by internal accumulation and loans from outside.
Industry veterans anticipate gigantic growth in Indian home textiles sector, which will be benefited from the abolition of global textile quotas from January 1,2005 this year.
Rajasthan Spinning manufactures nearly 52,000 tons of yarn and 12 million meters of fabric per year.
The company stated that the invest will be in two phase first will be of 2.1 billion rupees to establish a factory to manufacture terry towels and 1.8 billion rupees in the second phase. Initially the towels will be exported to the foreign countries.
The funds would be raised by internal accumulation and loans from outside.
Industry veterans anticipate gigantic growth in Indian home textiles sector, which will be benefited from the abolition of global textile quotas from January 1,2005 this year.
Rajasthan Spinning manufactures nearly 52,000 tons of yarn and 12 million meters of fabric per year.
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