Shri lakshmi to invest Rs 350 cr to expand capacity

MUMBAI: Kanpur-based Shri Lakshmi Cotsyn on Tuesday said it will invest Rs 350 crore to increase its terry towel production capacity to 15,000 MT.

"Under its Phase-III expansion plan, the company plans to add 12,000 MT capacities in terry towel and 12 MW agri-based power plant for captive use," the company said in a release here.

The investment will be funded through term loans under Textile Upgradation Fund Scheme, equity/FCCB/Warrants and internal accruals. SLC has four manufacturing facilities across Uttar Pradesh, Uttarakhand and Haryana.