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Trident group to invest Rs 2,000 cr in MP

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Shashikant Trivedi New Delhi/ Bhopal

Abhishek Industries, a Trident Group company, announced plans to invest Rs 1,000 crore in Madhya Pradesh (MP) in a span of two years. The announcement was made after the successful implementation of the company’s first yarn spinning project at Budni, the hometown of Chief Minister Shivraj Singh Chouhan. Owing to recent capacity expansion, company’s investment in the state has touched Rs 350 crore.

The company has attained a capacity of 98,496 spindles with the start of commercial production at its new and sixth unit at Budni. This will also augment the total yarn spinning capacity of the company to 2,24,448 spindles.

 

The company has plans to add more spindles and looms to its existing unit. A company official said a further investment of Rs 1,000 crore would be made in the project in the next year. This would place the company among top three yarn manufacturers in India with production of 180 tonnes a day. This would also take the company’s investment in the state to Rs 2,000 crore in the next three years.

“The new unit has the latest state of the art technology with flexible product lines and can make a variety of products. Apart from manufacturing 100 per cent cotton yarn, the unit is capable of making value added products like core spun, blends, modal, viscose cotton, yarns, slob yarns and compact yarn,” a company official said.

The yarn made at the Budni unit is used in T-shirts, shirting, bottom weight, towels, denims, sheeting, home furnishings etc.

“The company will add another 1,50,000 spindles in a phased manner. Bhoomi pujan for the first 75,000 spindles will take place next month. While 600 looms will also be added to the unit’s capacity for making sheeting material,” the official added.

The company had started production at Budni a few months ago with 50,000 spindles and now plans to add another 2,25,000 spindles there. It will also set up a wide width sheeting plant with 600 looms of installed capacity capable of producing 1,50,000 meters of cloth per day there. “The company also plans to set up a 60 Megawatt (Mw) power plant, sugar and ethanol plants in the near future,” the official added. The company is also working at creating demonstration fields for cotton growers.

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First Published: May 14 2010 | 2:28 AM IST

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