Ahmedabad-based Vinod group is setting up a Greenfield project costing Rs. 21.20 crore for manufacturing of grey fabric with a capacity of 63 lakh meters per annum (LMPA) at Ahmedabad. The project is proposed to be funded through a term loan of Rs. 15 crore and the remaining through the promoters’ contribution in the form of equity of Rs. 5.01 crore, and unsecured loan of Rs. 1.19 crore. The project involves installing of 30 air jet looms imported from abroad at an estimated cost of Rs. 10.93 crore. The Group is planning to procure rest of the ancillary machineries from local suppliers.