J.K. Spinning in process to install new bleaching plant

January 06, 2023 (MLN): The J.K. Spinning Mills Limited (JKSM) is installing new bleaching plant having capacity to produce 100,000 meters fabric per day, which is likely to be completed in 3rd quarter of current financial year, a notice issued by company to PSX on Friday showed.

At present, the company is working at its full capacity of 149,188 Spindles and want to enhance the spinning capacity to fulfill future requirements of the customers.

In this regard, civil work has been completed for spinning unit comprising 52,896 spindles.

“Around 90% of machinery has been imported against LC’s and installation of machinery is in progress, which is likely to be commissioned in 3rd quarter of current financial year”, the notification read.

For the purpose, the company has arranged funds of Rs3.7 billion, out of which Rs2.4bn acquired through LTFF facility and Rs1.3bn are equity based.

Further the report added that by adding these machines, company’s profitability will be improved, enabling company to achieve its goals.

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