Alex Fabs plans to set up a knitting unit at Vagra, in Bharuch district of Gujarat.
The unit will have a capacity of 5,500 tonne per annum and will come up with an investment of Rs 32.80 crore.
Around Rs 22.8 crore of the project cost will be funded through bank loan and the remaining Rs 10 crore from internal accruals.
ProjectsToday was informed that financial closure was underway. The contractor, consultant and machinery supplier are yet to be finalised.
Alex Fabs is awaiting land allotment from Gujarat Industrial Development Corporation (GIDC). Work on the project is expected to commence by April 2015.
More Project Info:
Knitting (Vagra) Project