Shri Lakshmi Cotsyn plans Rs 315 capex

Kanpur-based textile company Shri Lakshmi Cotsyn will increase the manufacturing capacity of its terry towel plant with an investment of Rs 275 crore, and also set up a 14 MW captive power project at an additional cost of Rs 40 crore.

The increased capital expenditure would be financed through term loan under TUFS and equity.

According to a release issued by the company to the BSE today, the expansion is likely to be completed by June 2008.