Drashti Cotspin is setting up a cotton yarn unit at Survey No 191/P, Bhavnagar Road, near Bajrang Cotton in Amreli district of Gujarat.

An official from Drashti Cotspin informed ProjectsToday (PT) that it was setting up a project with a capacity of 16,500 spindles in Gujarat. For the purpose, Drashti Cotspin has already acquired 13.5 acre of land.

Bank loan will fund 75 per cent of the project cost of Rs 45 crore and the remaining 25 per cent will be funded through internal accruals. Currently, the company is in the process of achieving financial closure for the project.

Earlier, the company had appointed Rieter India, Lakshmi Machine Works and Trizultra India (Switzerland) as machinery suppliers for the project.

Recently, Drashti Cotspin commenced civil construction and set the deadline of July 2014 for the project.

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