Shri Damodar Group, a Mumbai (India)-based textile giant, is planning to further expand its linen yarn production capacity at Amravati (Maharashtra) unit. This comes as an effect of the growing demand for linen yarn in India, which is not produced sufficiently within the country and is hence, imported from China.
Confirming the news on expansion, Anuj Biyani, Chairman, Shri Damodar Group, told Apparel Resources, “Last year, we started our linen spinning unit at Amravati with a total investment of Rs. 90 crores and now we are planning for expansion in the same product category in the coming year.”
The parent company of Shri Damodar Group, Damodar Industries Ltd. had mentioned in its 2016-17 report that it is setting up an automated fancy linen yarn spinning unit at Amravati. The total cost of the project (including the production enhancement plans) is estimated at Rs. 140 crores.
The unit is expected to start commercial production by next year. The annual sale from this plant is expected to be around Rs. 250 crore.
Damodar Industries already has deep roots in the textile business and its companies like Shri Damodar Yarn Manufacturing, Monopoly Yarns and Golden Fibers are also in the same domain. Therefore, expanding its linen yarn capacity, under Shri Damodar Group, would not be a difficult stride for the Group.
