Nitin Spinners to instal more spindles
PM News Bureau
Nitin Spinners, which is engaged in the business of manufacture of combed and carded cotton yarns, is planning to further expand manufacturing capacity by adding 50,400 spindles for cotton yarn production and 12 knitting machines for knitted fabric production.
The company also proposes to set up a power plant of 8.18 mw near its unit at Hamirgarh, Bhilwara, which is estimated to be sufficient for its captive power requirements of the expanded capacity. The project cost is estimated to be Rs 141 crore. Nitin is coming out with an IPO to part finance fund requirement. It will also raise Rs 83.5 crore as rupee term loan for the project.
The firm has acquired 19 acres at Kanya Khedi and Hamirgarh. It proposes to construct a factory shed admeasuring 19,000 sq. metres for spinning and knitting facilities. Pratap Parikh Associates, Engineers & Architecture 'Engineering Planning' Projects, New Delhi are architect for the project. Civil works is expected to be completed by the end of December 2006, and the new plant is expected to go on stream in April 2007.
Contact: Nitin Spinners Ltd, 16-17 km Stone, Chittor Road, Hamirgarh, Bhilwara, Rajasthan 311025. Tel: 01482-286110 to 13; Fax: 01482-286114; E-mail email@example.com
[29 August 2005]