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Banswara & Carreman Fabrics JV for handloom-spinning unit
23 Dec '05
1 min read
Textile firm Banswara Syntex Ltd is going to start a handloom-spinning unit in Banswara, Rajasthan in collaboration with a French company Carreman Fabrics Pvt Ltd.
With total investment of Rs140 crore, this unit will have equal partnership.
Company would invest Rs40 crore at first for putting up machinery and would further add Rs100 crore by 2007, said Sanjay Maheshwari, Manager-Finance.
Two sides would invest Rs6.5 crore each in unit and the remaining amount would be sourced from bank loans and internal accruals.
Annual capacity of this new unit would be of 40 lakh metres; unit would be spread over the area of 40,000 square meters. Company will purchase its fabric wheeling and spinning machineries from Belgium.
Company would foray into international fairs and set up necessary network for trouble-free operations in international market, Maheshwari added.
Nearly 16 looms in spinning and three additional lines in garment sector will be added, said J K Jain, Vice President of Banswara Syntex Ltd.
The unit will be operational by the end of current financial year, he added.
With total investment of Rs140 crore, this unit will have equal partnership.
Company would invest Rs40 crore at first for putting up machinery and would further add Rs100 crore by 2007, said Sanjay Maheshwari, Manager-Finance.
Two sides would invest Rs6.5 crore each in unit and the remaining amount would be sourced from bank loans and internal accruals.
Annual capacity of this new unit would be of 40 lakh metres; unit would be spread over the area of 40,000 square meters. Company will purchase its fabric wheeling and spinning machineries from Belgium.
Company would foray into international fairs and set up necessary network for trouble-free operations in international market, Maheshwari added.
Nearly 16 looms in spinning and three additional lines in garment sector will be added, said J K Jain, Vice President of Banswara Syntex Ltd.
The unit will be operational by the end of current financial year, he added.
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