Financial Daily from THE HINDU group of publications
Thursday, Jan 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 13, 2005 |
|
|
|
|
|
Corporate
-
New Projects Hanil Era plans Rs 50-cr expansion programme Our Bureau
Mumbai , Jan. 12 EXPORT house Hanil Era Textiles is investing Rs 50 crore in a modernisation-cum-expansion programme to take advantage of the brighter prospects in a quota-free regime. Mr R.K. Agarwal, Chairman, Hanil Era Textiles, said that the company is installing weaving capacity at its facilities in Patalganga with 72 looms initially and it will add another 50 in the next fiscal year. The company is a joint venture between New Era Fabrics Ltd and South Korea's Hanil Synthetics Ltd. Essentially a yarn manufacturer, the company is keen to undertake forward expansion and offer value-added products. Expansion will take place in two phases. Phase I will see it expand its product line to include grey fabrics, processing and home furnishings. Phase II will involve production of terry towels. The modernisation of the company will cost Rs 15 crore and expansion will account for Rs 35 crore. The investment will be funded by way of term loans and Rs 15 crore will be from internal accruals. Machinery for the facility has already been ordered and will be installed by April.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|