Nahar Spinning shelves Rs 233-cr project in MP

LUDHIANA: Punjab-based Nahar Spinning Mills has decided to put on hold its plans to set up a manufacturing plant at a cost of Rs 233 crore in Madhya Pradesh as it has not received the required land from the state government.

"We have shelved our expansion project in Madhya Pradesh for the time being as the state government could not allot us the required land," Nahar Spinning Mills Managing Director Dinesh Oswal said here.

Nahar Spinning Mills had sought 25 acres of land adjacent to its present unit in Raisen district for setting up a 50,000 spindles yarn manufacturing facility .

A 10 MW captive power plant was also planned at the facility.

The company at present has a capacity to produce 65,000 spindles of cotton yarn. Its present unit mainly caters to the export market, including the US and Russia.