Towel producer Nandan Terry on Wednesday stated it’s planning to extend its capability by 25 per cent by including 24 extra looms with a capital expenditure of about Rs 60 crore.
This capability increment, which is predicted to be operational by March 2022, will go ahead with a Capex of near Rs 60 crore, completely funded by banks and promoters, Nandan Terry stated in a press release.
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Presently, the corporate has 96 looms, and with an growth plan this yr the corporate will add 24 extra looms, taking the overall to 120.
The corporate additional said that it’s planning to rent over 100 staff to clean out the extra capability increment.
The hiring can be in gross sales, advertising, packaging, manufacturing and logistics departments, it added.
‘Terry towels take pleasure in demand from each home and worldwide markets. With the view to faucet home market potential, we’re laying out these growth plans. We may even be focussing on business-to-customers (B2C) vertical prominently,’ Nandan Terry CEO Ronak Chiripal stated.