LMW Textile Machinery (Suzhou) Co, a wholly owned subsidiary of Lakshmi Machine Works, is planning to expand capacity at its Wujiang unit in China.
The company intends to raise its capacity to 40 machines per month from existing 35 machines per month. The government authority has already allotted land for the proposed facility. Besides, it also plans to construct its own premises in the Wujiang Economic Development Zone. The expansion project and the new (own) facility will cost a little over $6 million (approx Rs 30.6 crore). Of the budgeted $12.5 million (approx Rs 63.75 crore), the company has already invested close to 50 per cent. The remaining funds will be invested in these projects in two years.