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Precot Meridian to set up technical textile plant in Karnataka

07 Dec '12

1 min read

Coimbatore-based Precot Meridian Ltd (PML) is planning to set up a technical textile plant in the textile SEZ at Hassan, Karnataka, which will manufacture non woven spunlace fabrics for the hygiene and the medical industries.

PML has placed an order with International technology Group ANDRITZ for supply of a complete ANDRITZ Perfojet Jetlace line, a unit for the production of customized fabrics with patterns and logos, as well as a high-efficiency filtration system designed for specialized fibers and fiber recycling equipment.

The cost of the new technical textile project is estimated at Rs. 1.65 billion, of which an amount of Rs. 1.25 billion would be extended as term loan by ICICI Bank, the company stated in its annual report. The new plant is expected to go operational in the first quarter of 2013.

Precot Meridian is a leading manufacturer of yarn and fabrics with manufacturing units in Kerala, Tamil Nadu, Andhra Pradesh and Karnataka. The company produces cotton yarn, sewing threads, fabrics and garments.

Technicaltextile News Desk - India