Nitin Spinners, a prominent player in the Indian textile industry, announced a major expansion plan today. The company will invest US $ 13.41 million (Rs. 1,100 crore) over the next two years to significantly increase its woven fabric production capacity. This expansion will take place at its existing facility in Chittorgarh, Rajasthan.
Currently operating at near maximum capacity in both its spinning and fabric divisions, Nitin Spinners aims to capitalise on strong market demand. The expansion will not only increase production volume but also diversify the company’s product portfolio with a focus on incorporating fashion fabrics.
Dinesh Nolkha, Chairman and Managing Director of Nitin Spinners, has said that the investment is aimed at doubling their woven fabric quantities. “We believe this expansion will drive substantial growth, contributing an additional US $ 13.41 million to our annual revenue once fully operational,” he added.
The company’s confidence in this expansion is further bolstered by the anticipated stabilisation of raw material prices. Cotton and yarn prices have witnessed a decline in recent months, and Nitin Spinners believes they have reached a bottoming-out point.
This significant investment underscores Nitin Spinners’ commitment to growth and its strategic positioning to capitalize on the evolving demands of the textile market.
