Nitin Spinners has received approval from board of directors for expansion at a total project cost of Rs 950 crore. The expansion is targeted to be completed over next 20 months period with an aim to strengthen company’s market position and capture the benefit of growing market opportunity in international as well as domestic markets.
Capacity expansion shall happen across all the segments i.e. spinning, Knitting, weaving and Finishing, at the existing plant locations. Addition of 1,51,000 equivalent spindles will increase the spinning total production capacity from 75,000 TPA to 1,10,000 TPA, addition of 2,500 TPA capacity thereby increasing the Knitted Fabrics’ total production capacity from 9500 TPA to 11,000 TPA and with addition of 10 million Mtrs/PA thereby increasing the woven Fabrics’ production capacity from 30 million Mtrs/PA to 40 million Mtrs/PA.
Capital Expenditure will be funded through combination of Term Loan and internal accruals and the same is eligible for Interest subsidy and other benefits under Rajasthan Investment promotion Scheme (RIPS).
Nitin Spinners is among the largest manufacture of cotton yarn having the world class textile producer, export over more than 50 countries.