Investment31 Jul 2025, 04:13 pm
Nahar Spinning Mills Ltd. Approves Modernization of Spinning Units with Rs. 350 Crores Investment
AI Summary
The Board of Directors of Nahar Spinning Mills Ltd. has approved the modernization of its spinning units at various locations with a total investment of approximately Rs. 350 Crores. The proposed modernization plan includes replacing old machinery with ultra-modern machinery, increasing overall production efficiencies by 9%, and installing an 11 MW solar PV system. The company aims to diversify its exports to quality-conscious markets of the U.S. and European Union by improving product quality and reducing production costs. The modernization is to be completed by the Financial Year 2027-28, with financing through internal accruals and term loans from banks.
Key Highlights
- Nahar Spinning Mills Ltd. to invest approximately Rs. 350 Crores in modernizing its spinning units
- Replacement of old machinery with ultra-modern machinery to increase production efficiencies by 9%
- Installation of an 11 MW solar PV system as part of the modernization plan
- The modernization aims to improve product quality and reduce production costs, targeting quality-conscious markets in the U.S. and European Union
- The project is to be completed by the Financial Year 2027-28, with financing through internal accruals and term loans from banks