INDIA: Vardhman Group now focused on MP

India: Indian textile conglomerate Vardhman Group is now focused on Madhya Pradesh to expand its capacity for production of superior quality yarn. First on the card is the Rs 250 crores upgrade of the unit in Mandideep in Bhopal, where the unit currently has 350,000 spindles. This will be increased to 405,000 spindles by March 2011. By December 2011, the second Vardhman unit in Madhya Pradesh in Satlapur will also be upgraded with an investment of Rs 235 crores, enabling an additional 60,000 spindles. The Satlapur unit is the groupís largest unit in terms of spinning capacity. S P Oswal, the dynamic chairman of Vardhman Group , feels Madhya Pradesh is the right place for expansion due to easy and smooth processes. They have enough land for this purpose at the existing unit in Mandideep. Vardhman Group is also studying new export destinations as the expanded spinning capacity will enable them to supply more quality yarn. Oswal says with this expansion they will be the largest in the spinning units industry in the country and probably the biggest job provider by creating 5,500 direct jobs as these two expansions will add another 800 to their total headcount. They are also mulling starting a shirting unit in the state. Currently, Vardhman Group manufactures shirting textiles in Ludhiana.

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Added: November 9, 2010 Source: YNFX
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