J.K. Spinning Mills Limited (PSX: JKSM) has invested approximately Rs. 1.789 billion in the modernization and enhancement of its Fabric Processing Unit and has allocated another Rs. 515.50 million for machinery replacement in its Spinning Division.
According to the disclosure issued to the Pakistan Stock Exchange on Tuesday, the company said the investment in its Fabric Processing Unit includes the installation of a Goller Complexa two-stage bleaching range with single-loop washing compartments and an 8 Chamber POSLU stenter with a working width of 3,400 millimeters.
The investment also covers a biomass-fired step grate thermal oil heater, along with related civil works and associated costs. J.K. Spinning Mills said the project is expected to improve the operational efficiency of its processing department and enhance the quality and competitiveness of its products.
Separately, the company has allocated Rs. 515.50 million under its ongoing Balancing, Modernization and Replacement policy for its Spinning Division. The investment is expected to replace 16 LMW high-speed ring frame LRJ/SX machines.
The Spinning Division upgrade will also include two sets of complete high-speed textile spinning system frames, related accessories and an automatic bale plucker. The company expects the replacement of existing machinery to improve operational efficiency, optimize the spinning process and enhance yarn quality.
J.K. Spinning Mills said it has secured financing from banks under the Long Term Finance Facility scheme, with the required documentation and other formalities currently being completed with the financing banks.
The company said the investments form part of its ongoing efforts to modernize its manufacturing facilities, improve operational efficiency and enhance product quality and competitiveness.
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