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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the Company has started the implementation of the first phase of its expansion plans i.e. Spinning Unit in the State of Madhya Pradesh. The Site for the said unit is located at Dist. Schore in the state of Madhya Pradesh. Recently the inauguration ceremony for the same was presided over by the Hon'ble Chief Minister of Madhya Pradesh Sh. Shivraj Singh Chauhan.
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 said project is the largest Spinning Project located at one place. The First Phase for which the implementation work is in progress consists of 1,95,840 spindles and second phase consists of 130560 spindles. Further it is also proposed to set up a Vertex Spinning facility with capacity of 2400 spindles and Open and Spinning with capacity of 2010 Rotors.
The Company has already acquired around 400 acres of land for the said project. The total cost of project for proposed spinning plant is envisaged at Rs. 1920.00 crores. The Financial tie-up with Banks etc. for the first phase is fully completed and for the second phase in under progress. The Company has also appointed M/s. Gherzi Eastern Ltd. as Project Management Consultant for the said project.
The orders for machinery have been duly placed for the first phase of the said project and the first shed consisting of 65000 spindles under the first phase in expected to be fully operational by Jan-Feb., 2011 and further sheds of 65000 spindles each are proposed to be added every next quarter after the first shed being fully operational." |
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