Financial Daily from THE HINDU group of publications
Friday, Jan 27, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 27, 2006 |
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Corporate
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New Projects Nahar Industrial plans Rs 800-cr capacity expansion Neha Kaushik
New Delhi , Jan. 26 The Rs 700-crore Nahar Industrial Enterprises Ltd (NIEL) is planning to invest Rs 800 crore over the next two years to expand capacity at its two units in Bhiwadi and Lalru (Punjab). The company is engaged in manufacturing textile including yarn, processed fabric and readymade garments. According to Mr Kamal Oswal, Managing Director, NIEL, the expansion plan is to be implemented in two phases of Rs 400 crore each. The first phase will be completed by March 2006 and the second phase by March 2008. Under the expansion programme, NIEL proposes to increase the capacities of its yarn and processed fabrics units in a phased manner besides setting up three new power plants of total 45 MW capacity, taking the total power generation capacity to 53 MW from the current 8 MW. The power plants would be for captive use only. NIEL is also getting aggressive on the retail front and plans to increase the number of its exclusive retail outlets of "Cotton County" to 300 by the end of March 2008 from 58 at present. "The funds for the expansion will be met through a FCCB of $45 million, terms loans and internal accruals," Mr Oswal said.
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