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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE regarding "Update on Expansions of the Company and its Subsidiary/Associates"
"As part of the expansion plans of the Company, the implementation work of the new Spinning Unit in the State of Madhya Pradesh is on full swing. As briefed earlier, the said expansion project of the Company in the State of Madhya Pradesh consists of Spinning unit with the capacity of 3,26,400 spindles divided into two phases. The First phase for which the implementation work is in progress consists of 1,95,840 spindles and second phase consists of 1,30,560 spindles. Further it is also proposed to set up a Vertex Spinning facility with capacity of 2400 spindles and Open end Spinning with capacity of 2040 Rotors.
The installation of the Machinery for the first phase is currently on progress and it is expected and the first shed consisting of 65,000 spindles under the first phase is fully operational by June, 2011. Further it is planned to commission the whole project by the end of F.Y. 2011-12 itself.
The work on expanding the capacity of Captive Power Plant located at Machiwara-Rahon Road, Dist. Nawan Sheher, Ludhiana, by setting up of another unit of 12 MW capacity taking the total capacity to 22 MW is also under implementation. Further Expansion is in increasing the manufacturing of Terry Towel capacity from 35 tonnes per day to 50 tonnes per day at Dist. Nawan Sheher, Punjab.
Further, as part of the expansion plans of the group on the whole, the major expansions under its Subsidiary namely M/s. SEL Textiles Ltd. includes:
a) Expanding the manufacturing capacities of the existing unit(s) i.e.:
- Addition of 34560 spindles at the Unit located at Neemrana (Rajasthan). It is also proposed to add Open end spinning with capacity of 1440 rotors there.
- Addition of 26400 Spindles at the Unit located at Hansi (Haryana).
The total cost of the aforesaid expansions at both the units is envisaged at appx. Rs. 340.00 crores.
b) Installation of new Spinning Unit in the State of Punjab with the capacity of about 1,88,000 spindles with a project cost of appx. Rs.950.00 crores.
c) Expansion of Terry Towel capacity from 10 tonnes per day to 45 tonnes per day at Dist. Nawan Sheher, Punjab.
Further one of the Associate Companies namely Silverline Corporation Ltd, is in the process of acquiring a spinning unit, located at Vadodara, with a capacity of about 68,000 spindles." |
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