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India:J J Exporters exporter group to expand garment unit |
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2005-7-14
A flagship company of J J Exporters Ltd, Pooja Creations Ltd unveils its plans to an invest Rs 14 crore to enlarge its current garment factory in Bangalore. The company has already been allotted two acre in the Apparel Park that is to be established by the Government of Karnataka state.
Chairman, J J Exporters S N Jhunjhunwala informed that the company is shifting its whole garment factory to the apparel park and it has planned to set up nearly 400 machines in that factory.
The company will also establish up an export-oriented unit (EOU) at Diamond Harbour in West Bengal, which will produce 6,00,000 metres of fabric and will employ to around 150 people.
The total investment will be of Rs 23.2 crore out of which Rs 6 crore will raised by internal accumulation and remaining by the loans.
At the board of directors meeting, the decision was taken that its two subsidiaries, J J Spectrum Ltd and Pooja Creations Ltd will be merged with itself.
The total turnover of the group was around Rs 100 crore in the previous financial year. The group is dipped in the business of exporting silk items and is listed in largest exporters of silk fabrics in East India region.
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