Coimbatore-based textile firm KPR Mill has planned an outlay of nearly Rs 400 crore for its various modernisation and expansion plans.

In the current financial year, the company anticipates the completion of vortex spinning mill at an outlay of Rs 100 crore. It also expects the modernisation plan undertaken at a cost of Rs 100 crore to get over during the year. Moreover, it will commence ethanol capacity expansion with an investment of Rs 150 crore before the sugar season 2023-24.

Additionally, the processing and printing expansion will be concluded in the first half of the ongoing financial year, as per the company's annual report for 2022-23.

This gains importance in the context of the government's vision of taking textile and apparel exports to USD 100 billion in FY28 through production-linked incentive (PLI) scheme, development of textile parks, and exports-promotion schemes.

The company is engaged in manufacturing of readymade knitted apparel, fabrics, carded, polyster and combed yarn. Its subsidiary KPR Sugar Mill operates a sugar plant.