SP Apparels inagurates knit fabric dyeing unit at Perundurai
Mumbai, June 12 (UNI) S P Apparels, one of the leading largest exporters of knit garments, today inagurated the first phase of its state-of-the-art knit fabric dyeing unit at the Sipcot Industrial area of Perundurai in Erode district.
A S P Apparels release here today quoted its Managing Director P Sundararajan saying that the first phase of the project has been set up at a capital outlay of Rs 42 crore and work on the second phase involving a capital outlay of Rs 35 crore is in progress on schedule and will become operational by the end of the current calendar year.
The Rs 77 crore dyeing unit set up in consultation with foreign experts is designed to process 24 tonnes of fabric a day and will be entirely used for its captive consumption. The addition of the dyeing unit has helped S P Apparels to be a fully-integrated textile company, the release said.
Mr Sundararajan said that the company with the addition of the dyeing capacity would be in a position to export knit fabrics at competitive prices to China, Sri Lanka, Bangladesh and other Europeon Union countries.
He said that the company was hopeful of achieving a turnover of Rs 275 crore during the current year with exports contributing Rs 250 crore and domestic retailing Rs 25 crore based on the current order book position.
Mr Veeramani, in-charge of dyeing plant, said the new dyeing unit has incorported the latest effluent treatment techniques and meets the pollution control norms prescribed in Tamil Nadu.
He pointed out that the effluent treatment plant also has a reverse osmosis unit ensuring zero discharge.
On May 24, SP Apparels Ltd had acquired 60.14 per cent stake in Crocodile Products Pvt Ltd and this new venture of S P Apparels Knit Dyeing Plant is a recent addition to S P Apparels expansion plans, the release added.
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