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Krishna Knitwear on a roll, announces Rs. 600 cr expansion

25
Jun '05
In an ambitious plan, Krishna Knitwear Technology Ltd (KKTL)announced investment of Rs. 600 cr to double its current capacity in spinning, knitting and processing.

As per plans, KKTL's spinning capacity is likely to increase 3 lakh spindles from 1.5 lakh; knitting to 50,000 tpa from 17,835 tpa and processing capacity to 50,000 tpa from 25,000 tpa. Further, it also plans to increase its garment manufacturing capacity to 10 million pieces from the present 2 million pieces.

The project is expected to be operational by March 2007 at KKTL's existing facilities in Silvassa, Dadra and Nagar Haveli, Navi Mumbai and Tirupur.

The company will fund 70 percent of its project cost requirements by utilizing Technology Upgradation Fund, while the rest will come from international accruals. The project will begin in the next two-three months time.

Meanwhile, KKTL is also planning to come out with maiden IPO in the coming months, though details are yet to be finalised.


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