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Trident Limited, the flagship Company of Ludhiana-based Trident Group, a leading manufacturer of terry towels, paper, yarn and chemicals with a strong presence in Madhya Pradesh and Punjab will invest another Rs 2,400 crore in its existing MP facility in Budni.
The company has claimed it would start commercial production from its Budni plant tomorrow to become world's largest terry towel manufacturer. "This new plant would make Trident the largest terry towel making company in the world," a senior company official told Business Standard.
Chief Minister Shivraj Singh Chouhan and Industry Minister Yashodhara Raje Scindia will inaugurate the plant and would also lay foundation stone of the proposed composite textile project comprising spinning units of 185,000 yarn spindles, bed linen unit of 500 looms, captive power plant of 60 Mw.
"This would be world's largest terry towel plant and will comprise 300 looms. It would add about Rs 1,800 crore to the company's annual turnover. With this expansion, the installed capacity of Trident will increase to 688 looms capable of producing 90,000 tonnes per annum (TPA) of terry towels thereby making Trident the largest manufacturer of terry towels in the world," said the official.
The inauguration of this plant will mark the completion of first phase of composite textile project undertaken by the company in Budni, the source further said. The company has invested Rs 1,191 crore in the terry towel project at Budni.
The captive power plant will have an investment of Rs 393 crore. "The company will make a total investment of 2,400 cr for its composite textile project in Budni, will engage about 25,000 families across all its business verticals," the company official said.
The company had set up its sixth Budni unit in 2009 and shortly has attained acapacity of 98,496 spindles with the start of commercial production. The company had started yarn production at Budni with 50,000 spindles.
