Sona Processors India has firmed up plans to set up a man-made fabrics manufacturing unit at Amravati Maharashtra Industrial Development Corporation (MIDC) in Maharashtra.
As per the latest developments shared with Projects Today, the promoter is awaiting necessary clearances for the project. In the meantime, efforts are on to achieve financial closure and acquire the required land for the project. Actual work is expected to commence by January 2019.
The new unit, with a capacity of 1.5 lakh mtr per day, will come up on 1.2 lakh sq ft of land at a cost of around Rs 100 crore. As per the current calculations, the promoter intends to go for bank loans to meet around 50 percent of the project cost.