JK Spinning Mills Limited (PSX: JKSM) is investing around Rs. 1.789 billion to modernize its Fabric Processing Unit and has allocated another Rs. 515.50 million to replace machinery in its Spinning Division.
According to a disclosure submitted to the Pakistan Stock Exchange on Tuesday, the company will install new bleaching and fabric finishing equipment at its processing unit.
The project includes a Goller Complexa two-stage bleaching range, an 8-chamber POSLU stenter with a working width of 3,400 millimeters, and a biomass-fired thermal oil heater. The investment also covers related civil works and other project costs.
JK Spinning Mills expects the upgrades to improve processing efficiency and help raise the quality and competitiveness of its products.
The company is also spending Rs. 515.50 million under its Balancing, Modernization and Replacement program for the Spinning Division.
The upgrade will replace 16 LMW high-speed ring frame LRJ/SX machines. It will also include two complete high-speed textile spinning systems, related accessories, and an automatic bale plucker.
According to the company, the new machinery will improve the spinning process, increase efficiency, and enhance yarn quality.
JK Spinning Mills said it has obtained bank financing under the Long Term Finance Facility scheme. The company is currently completing the required documentation and other formalities with the banks.
The investments are part of the company’s broader plan to modernize its manufacturing operations and improve efficiency, product quality, and competitiveness.
