Shri Bhagirath Textiles is planning to expand its cotton yarn project at Mohali village, Kalmeshwar in Nagpur district of Maharashtra.

An official from the company informed ProjectsToday (PT) that the company intended to expand the capacity of its cotton yarn from 13,300 spindles to 26,000 spindles in Maharashtra. The project is estimated to cost Rs 100 crore.

The company has appointed Sadiq & Co as the civil contractor. The required machineries for the project will be sourced from India & abroad.

Further, Shri Bhagirath Textiles will finance 70 per cent of the project cost through bank loan, and the remaining 30 per cent will be financed through internal accruals. The company has achieved financial closure for the project.

Currently, work on the project is in the planning stage and is expected to commence by March 2014.

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