At its meeting, the Rajapalayam Mills Ltd Board of Directors (“Board”) approved the addition of 166 no. of looms and the creation of a fabric finishing process with a capacity of 50,000 metres per day at a cost of Rs.330 crores.
Term loans, stock capital, and other sources of funding will be used, as determined by the Board from time to time.
In addition to the above, the Board approved other Capital expenditure proposals for modernising the spinning mills, establishing a 110 KVA substation to meet the power requirements of the proposed Fabric Processing Unit, and expanding the capacity of the Two for One (TFO) machine capacity in subsequent meetings, bringing the total Project Cost to Rs.430 crore.
