Financial Daily from THE HINDU group of publications
Tuesday, Sep 14, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 14, 2004 |
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Corporate
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New Projects Donear plans Rs 150-cr greenfield textile project Our Bureau
Hyderabad , Sept. 12 DONEAR Industries Ltd is setting up a greenfield textile project at an investment of around Rs 150 crore to be operational in the next six to 12 months, according to its Executive Director, Mr Ajay Agarwal. Addressing newspersons recently on the eve of a Fabric Show to mark the launch of international quality fabric under the brand `Royal Classico' in Andhra Pradesh, Mr Agarwal said the company has already identified the machinery requirements for the proposed project and orders were already placed. However, the company is yet to decide on the project's location. "It would be either in Gujarat or Maharashtra. We are still weighing the incentives currently being offered by these States and would decide on the better place shortly. The project would be exclusively for the production of cotton fabrics, for which the demand is on the rise," he said. Donear Industries, which currently has a capacity of 1.2 million metres per month for terry wool and polyester viscose, has also decided to take up capacity expansion at its existing location, Silvassa, at a cost of Rs 20 crore. The company expects to add another 0.4-million-metres-per-month capacity, taking the total to 1.6 million metres, Mr Agarwal said. Stating that the company has been registering high growth rates in the range of 35 to 40 per cent annually over the last six years, he said Donear plans to sustain growth by expanding its distributors network for various brands. It is also evaluating plans to set up exclusive showrooms in key cities across the country. "We have set an internal target of reaching Rs 500-crore turnover mark in the next four years," Mr Agarwal said.
More Stories on : New Projects | Textiles
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