Nahar group to develop Rs 2500 crore textile park
Chandigarh, Apr 16 (UNI) Nahar Group, one of the leading textile groups in the country, has outlined a Rs 2500 crore investment plan to develop an integrated textile park in Lalru in Punjab.
An initial investment of Rs 1500 crore has already been made and the remaining Rs 1050 crore would be completed by 2008.
''We have created an integrated textile complex having state-of the-art facilities for spinning, weaving, processing, dying and Denim manufacturing,'' Nahar Industrial Enterprise Limited (NIEL) Vice Chairman and Managing Director Mr Kamal Oswal told reporters.
Various companies under the Nahar Group, namely Nahar Industrial Enterprises Limited, Nahar Exports Limited(NEL), Nahar Spinning Mills Limited(NSML) and Oswal Woollen Mills Limited have already invested Rs 1500 crore in the textile park.
They have together set up more than 150000 spindles, 1800 rotors, 426 air jet looms for weaving greige fabrics, process house with a capacity of 100000 metres per day. A mercering unit with a capacity of 2040 MTS and a denim manufacturing unit with a capacity of 20 million meters per annum have also been set up.
All these industrial units set up by the company have state-of-the-art technology capable of producing a wide range of yarn like griege yarn, dyed yarn, compact yarn slub yarn and mercerised yarn to cater to the demands of different customers. The group has also set up co-generation power projects with a capacity of 17 MWs to meet the power requirement of its units at a low cost.
The future investment programme of Rs 1050 crore would include setting up new spinning units with a capacity of 125000 spindles, 4320 rotors,250 air jet looms and process house with a capacity of100000 meters per day along with the setting up of new power projects with a generation capacity of 21 MW. This phase of expansion will be completed by the year 2008.
The park presently employs 10000 people and would generate 4500 additional jobs by the year 2008.
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