Ultra Denim is planning to commission its denim fabrics unit at Palsana in Surat district of Gujarat, by June 2014.
An official from the company told ProjectsToday (PT), that Ultra Denim was setting up a denim fabrics unit with a capacity of 54,000 mtr per day in Gujarat, over 50,000 sq yard already acquired land. Currently, work on the project is underway.
The company has appointed Prism Textile Machinery, Ahmedabad, as the consultant for the project and has also finalised the machinery supplier. The required machinery will be sourced from Japan.
The project is estimated to cost Rs 84 crore, out of which 25 per cent will be funded through internal accruals and the remaining 75 per cent through loan from Bank of Baroda. Further, the company is in the process of achieving financial closure for the project.
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