 "Sutlej Textiles shuts fabric division to focus on home textiles")
K K Birla group company and India's largest dyed yarn manufacturer Sutlej Textiles and Industries Ltd (STIL) has announced closure of fabric division at Damanganga Fabrics in Gujarat, due to uneconomic working.
Instead STIL will expand manufacturing capacity of home textiles from the existing 2.5 million metres to 9.6 million metres.
The expansion will entail a capital investment of Rs 88.5 crore. The project will be implemented in financial year 2015-16.
"Capacity additions in home textile division will ensure further strengthening of its end-to-end viz yarns to home textile access," said Dilip Ghorawat, Wholetime Director and Chief Financial Officer of STIL.
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