To develop and modernise its current weaving and processing capabilities as well as set up a cotton spinning operation, BSL Ltd plans to invest over 200 crore in order to expand its company.
The corporation, which reported revenues of $436 billion in FY22, hopes to increase those figures by more than 20% this fiscal year to reach $500-550 billion.
According to Nivedan Churiwal, Managing Director, BSL, the company is investing close to ₹150 crore in establishing the cotton spinning unit.
The facility will have 30,000 spindles and will be capable of generating 700 tonnes of cotton yarn every month. The project is scheduled to begin in December 2022. The funding would be done through a combination of term loans and internal accruals
