Nitin Spinners has received an approval for expansion project at an estimated project cost of Rs 300 crore for additions in the capacity of Ring Spinning & Rotor Spinning facilities at the existing location. The board of directors at their meeting held on July 25, 2015 has approved for the same.
The project is proposed to be financed partly through term loan and partly through internal accruals. The expansion project is eligible for interest subsidy on term loan for capital expenditure under TUFS of Central Government and Rajasthan Investment Promotion Scheme, 2014.
Nitin Spinners is engaged in the manufacturing of cotton yarn and cotton knitted fabrics used in the hosiery segment.