|Having traded in cotton yarn and fabrics for over a decade now, Coimbatore-headquartered Kikani Exports Pvt Ltd. is now set to venture into spinning with the setting up of a new unit at Dholka in Ahmedabad District in Gujarat. The mill is coming up at an investment of Rs. 260 crore.|
"The first phase of this unit, with a capacity of 30,000 spindles, would be ready by February 2015. We will be adding another 30,000 spindles by December next year. Our target is to have one lakh spindles in three years," Vrajesh Kikani, Managing Director, Kikani Exports told BusinessLine.
Sharing his plans and reasons for foraying into the mill sector, Vrajesh said, "The incentives offered by the State of Gujarat are too good to be missed. However, that is not the only reason. As a trader, we were not able to convince the quality conscious customer. This prompted us to look into backward integration. We will be doing only value added yarn and will target the niche market."
Kikani Exports has acquired 28 acres of land for the proposed mill. The construction work is on and installation of machinery is expected to commence within the next couple of months.