Eskay to invest Rs 350 cr under its expansion plans
Eskay Knit (India) Ltd, the flagship company of Navin Kumar Tayal enterprise has earmarked a capital expenditure of Rs 350 crore to fund its expansion plans.
By PTI |
MUMBAI: Eskay Knit (India) Ltd, the flagship company of Navin Kumar Tayal enterprise has earmarked a capital expenditure of Rs 350 crore to fund its expansion plans.
The money would be spend to expand its spinning, knitting, processing capacities and manufacturing of high-end fabrics to cater the growing international demand.
The company will raise Rs 150 crore term loan while the rest would be through internal accruals, a release said here today.
The company has already invested Rs 70 crore for expansions and will expand its existing spindles capacity by bringing in an additional 75,600 spindles to its plants located at Union Territory of Dadra and Nagar Haveli, Gujarat and Navi Mumbai.
Initial production capacity of the garment facility will be one lakh pieces per year in 2007 and subsequently increased to two lakh pieces per annum, it said.
The company aims to complete its expansion plans by June 30, 2007.
Eskay plans to introduce its own brand called League & Assets through multi-branded showrooms in the metro cities.
It also plans to export garments to major supply chains like Wal-Mart and Urgent Gear and to the US and European markets.
The Company presently has an installed capacity of 65,000 spindles giving it a spinning capacity of 24,000 tpa, 200 kniting machines having a capacity of 33,000 tpa, 18,000 tpa of processing and 10,000 tpa TFO capacity.
The money would be spend to expand its spinning, knitting, processing capacities and manufacturing of high-end fabrics to cater the growing international demand.
The company will raise Rs 150 crore term loan while the rest would be through internal accruals, a release said here today.
The company has already invested Rs 70 crore for expansions and will expand its existing spindles capacity by bringing in an additional 75,600 spindles to its plants located at Union Territory of Dadra and Nagar Haveli, Gujarat and Navi Mumbai.
Initial production capacity of the garment facility will be one lakh pieces per year in 2007 and subsequently increased to two lakh pieces per annum, it said.
The company aims to complete its expansion plans by June 30, 2007.
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Eskay plans to introduce its own brand called League & Assets through multi-branded showrooms in the metro cities.
It also plans to export garments to major supply chains like Wal-Mart and Urgent Gear and to the US and European markets.
The Company presently has an installed capacity of 65,000 spindles giving it a spinning capacity of 24,000 tpa, 200 kniting machines having a capacity of 33,000 tpa, 18,000 tpa of processing and 10,000 tpa TFO capacity.
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