Trident Limited, the flagship company of US$ 1 billion Indian business conglomerate—The Trident Group, has inaugurated the world’s largest terry towel plant and also laid the foundation stone of its Composite Textile project in Budni, in the central Indian state of Madhya Pradesh.
The new terry towel plant comprises of 300 looms and is expected to add about Rs. 18 billion to the company’s annual revenue. With this inauguration, the installed capacity of Trident has increased to 688 looms capable of producing 90,000 TPA of terry towels, making Trident the largest manufacturer of terry towels in the world.
The inauguration of the terry towel plant marks the completion of first phase of composite textile project undertaken by the company in Budni.
Simultaneously, the company also laid the foundation stone of the second phase of its composite textile project comprising of two spinning units, a bed linen unit and a captive power plant. This project will have 500 looms capable of producing 3.6 million meters of bed linen/month, 185,000 yarn spindles and 60 MW of captive power, the company said in a press release. While the captive power plant will be commissioned in September 2016, the bed linen and spinning units are expected to be operational by September 2015, which is likely to add about Rs. 12 billion to the company’s annual revenue.
Overall, Trident will invest Rs. 24 billion for its composite textile project, which will be fully vertically integrated from cotton-to-terry towel and from cotton-to-bed linen, providing the company a natural cushion against variations in cotton and yarn prices. Commenting on the expansion projects, Trident Group chairman Rajinder Gupta said,
"Today we move a step closer to our dream of becoming the world’s largest home textile company. With entry into the bed linen segment, we intend to improve our product basket by offering a complete range of home textile products. With greater vertical integration and our emphasis on value-added products combined with prudent financial management, we believe that this expansion shall be a step further towards our goal of registering a strong performance and delivering better returns to our shareholders.”
Headquartered in Ludhiana, Punjab, Trident operates in two major business segments—textiles and paper—with its manufacturing facilities located in Punjab and Madhya Pradesh. Export turnover accounts for about 50 percent of the total sales of the company. (RKS)
