Rs 900 cr investment by SEL for spinning plant in Punjab

CHANDIGARH: Hard on its aggressive agenda of expansion, SEL, a textiles firm is all set to invest Rs 900 crore for establishing a spinning facility in Punjab. SEL is a Ludhiana-based textile firm.

"We have planned to set up a state-of-the-art yarn spinning unit at an estimated investment of Rs 900 crore in Punjab…currently we are looking for a suitable location for the plant and we want to have it near cotton growing areas of the state. It is expected to be commissioned next year,” said, V K Goyal, Executive Director and CEO, SEL.

The plant is the most ambitious project by SEL so far as it will have a capacity of 2, 10,000 spindles and is the largest single location spinning plant. The project will generate a direct employment of over 2,500 and an indirect of 15,000 people.