Trident to invest Rs 2,400 cr in MP textile project

Textiles major Trident Ltd today said it will invest Rs 2,400 crore in its project in Madhya Pradesh, which is under different stages of implementation.
"The company shall make a total investment of Rs 2,400 crore for its composite textile project in Budni, Madhya Pradesh and shall engage about 25,000 families across all its business verticals," Trident said in a filing to the BSE.
The Ludhiana-based company, which inaugurated a terry towel plant, also laid the foundation stone of the second phase of its composite textile project comprising of two spinning units, a bed linen unit and a captive power plant.

"This project will have 500 looms capable of producing 3.6 million meters of bed linen per month, 1.85 lakh yarn spindles and 60 MW of captive power," it said.
While the power plant will be commissioned in September 2016, the bed linen and spinning units are expected to be operation by September next year and will add about Rs 1,200 crore to annual revenue, it added.
The composite textile project is fully vertically integrated and would provide the company a natural cushion against variations in cotton and yarn prices.

Elaborating on its terry towel plant, it said the unit comprises of 300 looms and would add about Rs 1,800 crore to its annual revenue.

"With this expansion, the installed capacity of Trident has increased to 688 looms capable of producing 90,000 TPA of terry towels," it added.
The inauguration of the plant marks the completion of first phase of composite textile project undertaken by the company in Budni, the company said.
Trident Group Chairman Rajinder Gupta said: "We intend to improve our product basket by offering a complete range of home textile products.