Suryalakshmi Cotton Mills plans to add 26,000 spindles by setting up a spinning unit near Nagpur to its already installed capacity of 61,008 spindles. The new unit is estimated to cost Rs. 131 crore and the Commercial Operational Date (COD) will be in October 2015. The project is funded by long term loans of Rs. 95 crore and the remaining will be through equity and internal accruals. The unit will produce value-added and fancy yarns like ring, lycra, slub and compact. Suryalakshmi Cotton Mills has 40 million metre annual installed capacity for denim in Maharashtra. It has a capacity to make 4,000 garments per day and has set a target of a turnover of Rs. 1,000 crore in three years.
