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Shri Lakshmi Cotsyn rolls out Phase III capex plan by Rs350 cr

Shri Lakshmi Cotsyn rolls out Phase III capex plan by Rs350 cr
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First Published: Wed, Jun 18 2008. 10 23 AM IST
Updated: Wed, Jun 18 2008. 10 23 AM IST
Mumbai: Shri Lakshmi Cotsyn Limited (SLCL), a Kanpur-based technology driven, end-to-end textile solution company, plans to increase its on-going expansions plans by Rs350 crore aggregating to Rs809 crore.
Under its phase III expansion plan, the company plans to add 12,000 MT capacities in terry towel and 12 MW co- generation agri-based power plant for 100% captive consumption. With this expansion plan, SLCL will become the second largest producer of terry towels in India with a total capacity of 15,000 MT by March 2009.
The increased capital expenditure would be financed through term loans under TUFS (Textile Upgradation Fund Scheme) , Equity/FCCB/Warrants and internal accruals.
The company has already completed its Rs264 crore project for terry towel, bed sheets, denim and bottom weight, Rs125 crore project for nylon and home furnishing and Rs70 crore project for garments in the past two years.
The company’s order book position as on June 13, 2008 is Rs167.32 crore and these have to be executed in the next two months.
Elaborating on the company’s expansion strategy, Dr M P Agarwal, CMD said, “We will post Phase III expansion, with our large scale facilities, fully integrated operations and a diversified rich product mix, significantly benefit from both export and domestic opportunities.”
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First Published: Wed, Jun 18 2008. 10 23 AM IST