ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Ranging despite Constraints

Ranging despite Constraints Hannsavivek MODI SPINNING AND WEAVING, which already owns cloth, yarn and thread mills, silk and hosiery units, distilleries, and ginning factories, is entering into even more fields, It has obtained a 'letter of intent' for manufacture of 33,000 tonnes of caustic soda, 16-400 tonnes of liquid chlorine, and 10,000 tonnes of hydrochloric acid per annum. The plant is to be established in a 'backwaid' district of Punjab, An industrial licence has been secured for setting up a plant for annual manufacture of four lakh tonnes of Portland cement, for which a suitable site is being selected. Also, 'letters of intent' have been procured for setting up 150 terry-towel looms, and for manufacture of tufted carpets and carpet yarn. The latter project is to be established in a 'backward' region of UP in technical collaboration with Hepatex of Switzerland. In addition, the company is seeking conver sion of the 'letter of intent' in respect of the project for production of synthetic sewing thread into an industrial licence. The collaboration agreement with Arovn Rorchach of Switzerland has been approved by government. The project for a thread plant in Cyprus, however, has been abandoned in view of the political upheaval in that country. Meanwhile, modernisation, renovation, and expansion of the existing plant and machinery is also being continued. Last year, the company spent Rs 106 lakhs on this account.

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