SEL Manufacturing is planning to venture into home furnishing segment in India.
The company will be setting up a new facility in Punjab, entailing investments of over Rs 1,500 crore. The company has forwarded a proposal to the Punjab Government seeking 500 acre for the project. The home furnishing facility is likely to be a completely 100 per cent export-oriented unit.
This apart, the company is already is in the process of investing Rs 1,500 crore for setting up of new spinning facility to manufacture denim fabric and denim garments at Mansa district in Punjab. It will have capacities of 1,88,160 spindles in ring spinning, eight million pieces of denim garments per annum. Civil work for the project has already commenced.