Malwa Cotton Spinning Mills Ltd Company Summary

Malwa Cotton Spinning Mills Ltd Summary

Malwa Cotton Spinning Mills, the Delhi based company was promoted in 1976 in the Joint Sector by the PSIDC and Oswal Woollen Mills to manufacture acrylic yarn and cotton yarn. The company has put up a plant with 24200 spindles capacity to process cotton and acrylic yarn in Barnala, Punjab. The commercial production was commenced in March 1981.The company has envisaged a new project of 11040 spindles at its existing premises during 1983-84. In 1988-89, it set up a 7680-spindle unit at Paonta Sahib. In 1989-90, the company installed 9,600 spindles to manufacture yarn from man-made fibre. Simultaneously, modernisation of the unit was taken up to enable the production of quality cotton and polyester yarns, mainly for exports. In 1990-91, it undertook a project to set up a 10,080-spindle EOU.In 1995-96, the Paonta Sahib unit completed the project of 24,192 spindles at a project cost of Rs 46 cr and the company has taken in hand implementation of a 100% EOU at the Barnala unit in Punjab to manufacture cotton yarn with a capacity of 25,200 spindles at a project cost of Rs 48 cr which was financed by a term loan of Rs 32 cr and internal accruals of Rs 16 cr. In 1996-97, 13104 spindles have been installed and started commercial production. The Company has put up a Dyeing House at village Harian, Kohara Machhiwara Road, Distt. Ludhiana with capacity of 12 tonnes per day. The total project cost of the unit was Rs.18.65 Crores. Of the 9900 Spindles which was planned by Worsted unit only 5040 were installed at a cost of RS.27.25 crores. Since the Acrylic yarn market was depressed for quite sometime the company has withheld the installation of spindleage.