Shivdhara Spinners & Spinners plans to commission its cotton yarn unit at Ransol, Gadhada, in Bhavnagar district of Gujarat, by April 2014.
An official from the company disclosed to ProjectsToday (PT), that Shivdhara Spinners was setting up a cotton yarn unit over 40,000 sq mtr with 15,000 spindles in Gujarat. The company has already acquired land for the project. Currently, work on the project is underway.
The project cost of Rs 60 crore will be 75 per cent funded through bank loan and the remaining 25 per cent through internal accruals. Shivdhara is in the process of achieving financial closure for the project and is scouting for machinery suppliers.
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