JWL to enter into infrastructure development

New Delhi, Dec 13 (UNI) Textile major Jindal Worldwide Ltd (JWL) today said it plans to foray into infrastructure development as it is undertaking its business expansion entailing an investment of Rs 225 crore.

The company is raising Rs 164.43 crore as term loan under the textile upgradation fund scheme (TUF), a statement said.

A major element of the expansion project is augmenting weaving capacity at a cost of Rs 57.04 crore. The next big expansion is on the home textile front envisaging a capital expenditure of Rs 40.67 crore followed by a garmenting project on which Rs 24.31 crore is being invested.

A terry project is also planned at a cost of Rs 30.42 crore.

The company is also investing Rs 35.81 crore to expand its open end and ring frame spinning capacities. A Rs nine crore yarn dying project is being planned which will increase the dying capacity to 3.3 million metres a year.

After the expansion, the annual weaving capacity will be about 152 million metres, the home textiles capacity will rise to 17.5 million metres and that of garments to 3.5 million pieces, the statement said.

To control power cost, JWL is setting up a seven MW of captive power plant with an investment of Rs 28.32 crore.

JWL's global buyers include Wal-Mart, springs, Carrefour, Metro, The Hudson Bay Co, West Point and brands such as JYSK, Disney, Matex and Sheridan. The homebuyers include Pantaloon, big Bazaar, West Side and the Taj group of Hotels.

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