Delhi: The Rs162-crore integrated knitwears and textiles firm, TT Ltd,
will invest Rs100 crore in the next two years to increase its yarn capacity
and expand the company's presence in Europe. Already the company has upgraded
its textiles mills, which produce over six lakh miles of high quality of yarn
per day, with imported modern machines and technologies from Switzerland,
Japan and Germany.
investing Rs100 crore to enhance our production capacity and match the growing
demand of quality yarn, we are aggressively planning major forays into the
western markets, including expansion in Europe said,'' Sanjay Jain, director,
TT Ltd said.
said the funding will be made through a mix of debt, equity and internal accruals.
''We will raise a loan debt of around Rs65 crore, invite Rs15-crore equity
and invest Rs20 crore through internal generations,'' he added.
Ltd, which is consolidating and expanding on the complete value chain
from fibre to garments, is confident of capturing opportunities thrown up
by the post quota regime. The company has also entered cotton ginning and
trading in the last two years, and is now planning an ultra modern ginning
facility to take care of quality issues.
yarn is used in the production of some of the most respected labels in Switzerland,
Denmark, Germany, Hong Kong, Finland, Norway, Sweden, USA, Australia, which
consider its products matching their high standards of quality.
company expects a 25 per cent growth in its exports this fiscal over last
year's Rs82 crore, Jain said.
company, which has been for over 58 years in industry and dealing in cotton
fibre, yarn, fabric, garments, knitwears and handlooms
and many more, has two export oriented spinning mills one in Gajroula (UP)
and other in Avinashi (Tamil Nadu), and five knitting and garment units.