Sangam's march towards uniform segment

08 Feb '06

1 min read

Sangam India Ltd (SIL) has uncovered new market avenue in the supply of armed forces uniform, for its growth.

Speaking to the media, S N Modani, Managing Director of SIL, stated that Indian armed forces consume about five crore metres of fabric, annually.

The company is aiming to sale more than five lakh metres of uniform cloth by the end of March 2007 and expand its sale to 20 lakh metres by 2008.

Demand of cloth would be fulfilled by polyester viscose fabric and yarn, stated Modani.

Indian Army is satisfied with the quality of company's polyester viscose fabric and found it meeting their specifications, he informed.

The company will also satisfy requirement of armed forces of Iran and by March 2007, the company would export one lakh metre of cloth worth Rs83 lakh, added Modani.

Moreover, company plans to expand itself and intend to add more than one lakh spindles and 140 weaving machines in next three years.

The Rs541-crore expansion will be financed by banks and venture capital fund to the tune of Rs403 crore, under the Textile Upgradation Fund Scheme (TUFS).

The company would garner another Rs137 crore through internal accruals, informed Modani.

More Sangam India Ltd News... More Textiles News - India...