December 07, 2018 (MLN): The Board of Directors of Shahzad Textile Mills Limited have decided to dispose of the obsolete machinery which is continuously running into losses.
The BoD have further decided to install a latest socks manufacturing unit to produce quality socks which has good demand in the international markets. This will be a 100% export oriented unit.
The total cost of the project will be PKR 540 million which will be financed by bank loans and internal generation of funds including proceeds of the disposal of the old machinery.
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