Shri Lakshmi Cotsyn will complete its over Rs 950-crore expansion plan by this year-end, according to the Rs 1,800 crore integrated textile company.
The move will see a sharp increase in the 1993-founded company’s technical textiles and denim fabric capacity. While the promoters and strategic investors will bring in Rs 299 crore, the balance was funded through a term loan from a consortium led by Central Bank of India¸ said Rakesh Srivastava, company secretary and finance controller, Shri Lakshmi Cotsyn. “The Central Bank has also approved syndication of mezzanine debt of Rs 175 crore so that the project is completed on time,” he told Business Standard.
In technical textiles, the company proposes to double the annual fusible interlining capacity to 25 million meters, flex fabric to 17 million meters, IRR fabric to 5 million meters, blackout fabric at 20 million meters and nuclear bio-chemical fabric to 10 million meters.
The Kanpur-headquartered company plans to double terry towel capacity from 3,000 tonne per annum to 15,000 tonne per annum and denim fabric to 40 million meters per annum.
Wider width sheeting capacity will increase to 30 million meters per annum from the current capacity of 12 million meters per annum. The company’s requirement of yarn will increase to 150 tonnes a day from the current 70 tonnes.
In view of the present scenario and huge requirement of yarn after expansion of capacities, the company proposes to install 150,000 spindles and 5,000 rotors to fulfill its requirement.