At meeting held on 25 July 2015
Nitin Spinners announced that the Board of Directors of the Company at its meeting held on 25 July 2015, inter alia, has approved the following:- Expansion Project at an estimated project cost of Rs. 300.00 crore as per following details :-
The Company has archived full production capacity on expanded facilities installed in the year 2014-15. In order to further expand its product range and to establish leadership position in the market, the Board of Directors of the Company have approved expansion project at an estimated cost of Rs. 300 crore for additions in the capacity of Ring Spinning & Rotor Spinning facilities at the existing location. The project is proposed to be financed partly through term loan and partly through internal accruals. The expansion project is eligible for interest subsidy on term loan for capital expenditure under TUFS of Central Government and Rajasthan Investment Promotion Scheme, 2014.
Powered by Capital Market - Live News
