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Welspun India to invest Rs 300 cr to enhance production

14 Jun 2010

Welspun India plans to invest Rs 300 crore to streamline its two production facilities to enhance output of products. The company's facilities at Anjar and Vapi in Gujarat will undergo streamlining to hike production of towels, bed linens and rugs.

The aim is to increase production of towels to 45,000 tonnes from 41,500 tonnes currently, bed linen to 52.5 million metres from the existing 45 million metres and rugs from 8 million pieces to 10 million pieces.

The company will utilise Rs 156 crore raised through qualified institutional placements (QIP) in April to finance the debottlenecking process. In addition to this, the funding for this will be through internal accruals and debt. Welspun also plans to increase its presence in new markets like Russia, China, Japan, Canada and South American countries. crackcrack
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