Ludhiana-based Abhishek Industries Limited, the flagship company of the Rs 2,500 crore Trident Group, has commenced commercial production of its fifth yarn spinning unit and has also laid the foundation stone for its sixth unit at Budni in Madhya Pradesh.
In the first phase, the project will comprise 50,400 spindles with a capacity to produce 7,098 tonne of yarn. On completion of the second phase, the unit will have 100,800 spindles at an outlay of Rs 373.70 crore, said a company spokesperson.
“This is the first industrial venture of Abhishek Industries in Madhya Pradesh. The company has already established itself in Punjab and is now expanding its base to be globally competitive,” said the spokesperson.
The company also plans to penetrate in the southern markets. It is targeting an incremental turnover of Rs 110 crore with the commissioning of the Madhya Pradesh unit and has created employment opportunities for around 600 persons.
The Trident Group is into textiles, paper, energy, chemicals and information technology.