Bannari Amman to set up textile project in TN

Spinning mills manufacturer Bannari Ammans has inked an MoU with the Tamil Nadu government for setting up its textile project in the state.
"The Tamil Nadu based company's subsidiary Abirami Amman Mills Pvt Ltd has entered into a memorandum of understanding with Tamil Nadu Government for setting up of a textile project near Dindigul in Tamil Nadu," Bannari Amman Spinning Mills said in a BSE filing.
However, the company did not disclose the details of the investment proposed or the capacity of the plant.
The company had recently promoted a wholly-owned subsidiary Abirami Amman Mills Pvt Ltd to implement the new projects in future.

Bannari Amman currently has two factories for yarn spinning housed in Tamil Nadu with an installed capacity of more than 1.40 lakh spindles.
The spinning division is in Dindigul while the weaving division is in Coimbatore.
The company has a technical textile division comprising of coating, flocking and lamination units, a company website said.
Shares of the company ended flat at Rs 105 apiece on the BSE.