Sangam (India) to expand spinning unit with Rs 137cr investment

Sangam (India) Limited said that its board of directors has sanctioned the expansion of its spinning unit in Bhilwara, Rajasthan with an investment of INR 137.25 crores.

The proposed expansion program will be taken up at the company’s Spinning Unit-II in the Sareri village in Hurda Tehsil for manufacturing cotton yarn through the installation of 32,832 spindles.

Sangam (India) said that the project will be partly funded by term loans of INR 102 crores, while the remaining amount will be covered by internal accruals.

Sangam (India) to expand spinning unit with Rs 137cr investment. Photo courtesy of Bruno /Germany from Pixabay.

The company is the textile division of Sangam Group and owns brands such as Sangam Suitings and Sangam Denim. Sangam (India) is the group’s core business, contributing the most revenue.