Amutham to cast wider net into silk reeling business
04 Jul '06
1 min read
The promoters of Amutham Knitting based in Tirupur are diversifying into silk reeling.
The Central Silk Board cleared the reeling project for Tamil Nadu recently and another silk reeling project is to come up at Chidambaram.
The Rs 2-crore project, which includes import of the automatic silk reeling plant from China, will be located at Perundurai near Erode and will start operations by January 2007.
Company has applied for a 25 percent capital subsidy eligible under the project scheme from the Central Board.
Company has also tied up with Canara Bank for project finance, including for term lending for machinery procurement.
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