Prime Urban Development India Ltd

Prime Urban Development India Ltd

A subsidiary of Yarn Syndicate Prime Textiles Ltd earlier known as ATL Textiles is part of the Patodia YSL group which has been in the textile business for more than five decades.A government-recognised export house it produces cotton yarns of varied counts with high value-addition post-spinning processes to meet customer specifications. The products are well received in Japan South Korea Italy the EEC and other countries.Prime Textiles expanded the capacities of its blowroom and preparatory machines facilitating the production of melange yarn. It modernised the facilities for cotton yarn to capitalise on the export market. It diversified into knitting by installing Mayer & Cie knitting machines manufactured by Mayer & Cie Rundstrickmaschinen Germany. The above projects were part-financed by a public issue in Mar.'94. The company made two rights issues to finance a 100% EOU for cotton yarn but the project was deferred and the proceeds were used for working capital. The company installed 3.24 MW Power plant to cater to the spinning unit in order to keep at check the incidence of power overhead During 2000-2001 the company has implemented on a modernization program for allowing to absorb for absorbing latest technology. The company availed Term loan for IDBI to the tune of Rs.100 million under the TUF scheme to meet the project outlay of Rs.141.50 million. The Third phase of TUFS is under implementation stage and Central Bank of India has appraised the project and a term loan of Rs.24.50 million has been sanctioned to meet the project outlay of Rs.31.57 million.