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Nitin Spinners invests Rs 281 cr for capacity expansion

Nitin Spinners has complete its planned expansion project for 2014/15 for installation of 72,480 spindles and 19 knitting machines at an estimated cost of Rs 281 crores. Commercial production has already commenced after the successful expansion.

Now the installed capacity of the company has increased to 150,096 spindles, 2,936 rotors and 49 knitting machines. Production capacity has gone up to 37,800 TPA of cotton yarn and 8,600 TPA of knitted fabrics. The company is now equipped to offer a broader and diversified range of yarn and knit fabrics and enhance its market share.

The investment in the project is eligible for interest subsidy and other benefits under TUFS and the Rajasthan Investment Promotion Investment Scheme. Nitin Spinners reported a turnover of Rs 616 crores in 2014/15 compared to Rs 488 crores in the previous year, achieving a 26 per cent growth.