Incorporated in Oct.'91, Hanil Era Textiles was jointly promoted by New Era Fabrics and Hanil Synthetic Fibre Industries Company, South Korea. The company, which has a 100% EOU at Patalganga, Raigad, manufactures and exports acrylic, cotton, viscose and blended yarns in varying textures, blends and counts. The company has planned to expand and double its installed capacity of 79,880 spindles and 504 rotors by 1996.
The company came out with a Rs 38.5-cr issue of PCDs in Apr.'93 to part-finance the installation of its plant at Patalganga. A Rs 10-cr captive power plant and a dyeing plant was commissioned by the company in Dec.'95. The 14-MW power plant will cater to the total power requirements of the company while the yarn dyeing plant will have a capacity of 15 tpd.
The company has spent Rs.5.6 crores from its own resources for moderanisation of Plants and Machineries from its internal accruals.
The company has signed an agreement during March 2005 with Gail India Ltd for the supply of Natural gas to the company from December 2006.