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| The Textile Magazine
JUly 2012
SEL foraying into home furnishing
with Rs. 1,500-crore investment
corporate news
Textile major SEL Manufacturing has plans to foray into
the home furnishing segment by setting up a new facility in
Punjab which would entail an investment of more than Rs.
1,500 crores. The company has forwarded its proposal to the
State Government seeking 500 acres of land for setting up the
greenfield mega project.
“We have plans to foray into the home furnishing segment,
and for this we have sought 500 acres of land
for setting up a new facility for this purpose
from the Punjab Government. The total invest-
ment on this project may exceed a sum of
Rs. 1,500 crores. It will be a completely 100
per cent export-oriented unit, and we will be
catering to big overseas retailers”, Mr. Neeraj
Saluja, the company Director, told PTI.
SEL already is in the process of investing
Rs. 1,500 crores for setting up a new spinning
facility to manufacture denim fabric and denim
garments in Mansa district of Punjab.
“This project shall have capacities of 188,160
spindles in ring spinning, 40 million metres
in denim fabric and 8 million pieces of denim
garments per annum. Civil work for the project
has already started. With this venture, the
group will enter the world of denims,” the
Director added.
SEL, an integrated textile major producing
yarns, knitted fabrics, terry towel and ready-
made garments, has logged a 35.01 per cent
jump in its turnover at Rs. 2,330.83 crores in
2011-12 as compared to Rs. 1,726.42 crores the
previous year.
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Mr. Neeraj Saluja, Managing Director