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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the Company has proposed to set up a Weaving and Processing Unit at Perundurai, Expansion of Spinning Unit at Udumalpet and installation of 3 Wind Mills in Udumalpet Taluk. For implementing the above Project, the total cost estimated was Rs 350 Crores. With a view to meet out the cost of the Project, the Company went in to Public Issue to the extent of Rs 55 Crores as well as with term loans from Financial Institutions to the extent of Rs 295 Crores. The fund raised as above has been utilized for implementing the project and the civil work of the above projects are nearing completion.
In the Weaving and Processing Unit at Perundurai few Machines have been already installed and the Company have performed a pooja on November 03, 2006 and started a trial production of Grey Fabrics with Picanol Looms.
Balance Looms, Dyeing & Processing Plant is expected to be fully commissioned and start
commercial production by January 2007. |
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