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Sangam expansion on full steam
21 Apr '06
2 min read
Sangam (India) Ltd has planned to implement its expansion programme with an investment of Rs541 crore expansion programme funded by a mix of debt and equity, company sources informed.
Company's expansion plan is going ahead as per schedule with installation of 20,000 cotton spindles and 90 weaving machines becoming operational by March 31, Sangam (India) Managing Director S N Modani said.
Additional installation of 40 weaving machines, a captive 21 MW thermal power plant and additional processing machine will be undertaken under proposed expansion project, he said.
A five percent interest subsidy on loan amount under Technology Upgrade Fund Scheme (TUFS) will be granted by Central Government to the firm.
Modani said, company plans to focus on exports and defence garment market in post quota scenario.
Its export order was worth Rs100 crore as on March 31, 2006, including fresh export orders worth Rs30 crore from Egypt, Poland, and United Kingdom.
It has also bagged orders worth Rs40 crore from large domestic manufactures which are to be executed during next three months.
Sangam (India) is the largest manufacturer of polyester dyed yarn in the country and has a strong presence in Indian synthetic blended fabric segment with brands like Anmol and Sangam.
Its fabric is marketed through a network of 100 dealers and 1,000 retailers.
Company's expansion plan is going ahead as per schedule with installation of 20,000 cotton spindles and 90 weaving machines becoming operational by March 31, Sangam (India) Managing Director S N Modani said.
Additional installation of 40 weaving machines, a captive 21 MW thermal power plant and additional processing machine will be undertaken under proposed expansion project, he said.
A five percent interest subsidy on loan amount under Technology Upgrade Fund Scheme (TUFS) will be granted by Central Government to the firm.
Modani said, company plans to focus on exports and defence garment market in post quota scenario.
Its export order was worth Rs100 crore as on March 31, 2006, including fresh export orders worth Rs30 crore from Egypt, Poland, and United Kingdom.
It has also bagged orders worth Rs40 crore from large domestic manufactures which are to be executed during next three months.
Sangam (India) is the largest manufacturer of polyester dyed yarn in the country and has a strong presence in Indian synthetic blended fabric segment with brands like Anmol and Sangam.
Its fabric is marketed through a network of 100 dealers and 1,000 retailers.
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