The Hindu Business Line : Krishna Knitwear plans Rs 600-cr expansion

KRISHNA Knitwear Technology Ltd has announced that it will implement a Rs 600 crore expansion of its spinning, knitting and processing capacities and the manufacture of high-end fabrics by March 2007 to cater to growing demand from its buyers.

The expansion will include raising its spindlage to 3 lakh from 1.5 lakh currently. Its knitting capacity will rise to 50,000 tonnes per annum from 17,835 tpa; and, processing capacity to 50,000 tpa from 25,000 tpa; and high-end garments to 10 million pieces from the current two million pieces.

The expansion will take place at existing production units at Silvassa, Dadra and Nagar Haveli, Navi Mumbai and Tirupur.

According to Mr Sanjay Kumar Tayal, Chairman, Krishna Knitwear Technology, the company's focus area was knitwear and there was huge potential in the market with the domestic market alone likely to account for an increase in consumption to about 20 per cent over the next four-five years from the current five per cent.

Mr Tayal said there could be a possibility of the company seeking funds from the market in the next three to six months. However, the company would decide on its funding in about 4-6 weeks.

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