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Our Bureau

Mumbai , Oct 13

Banswara Syntex Ltd (BSL) plans to spend an additional Rs 150 crore on capacity expansion, pushing total capital expenditure to Rs 260 crore.

The company plans to add 40,000 spindles and 48 shuttleless looms, raising the spindle and looms capacity to 1.60 lakh and 200 respectively.

Part of the additional expenditure is to be funded by term loans under the Textile Upgradation Fund Scheme (TUFS), with internal accruals making up the rest.

BSL would be importing machinery from China and the fresh capacities will be operational by the third quarter of 2007-08.

"We are moving from being a pure yarn and fabric player by extending our line of operations to the value-added garments segment," said Mr R.L. Toshniwal, Chairman.

The ongoing Rs 110-crore expansion plan, for which the company has procured 16 new shuttleless looms, is on schedule.

More Stories on : New Projects | Textiles

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