Garden Silk Mills Ltd has announced that the Company has signed a contract with CTIEI (China Textile Industrial Engineering Institute, P.R. of China) to set up a continuous polymerization plant with a capacity of 2,60,000 tons per annum of textile grade polyester chips. The plant will commence production by October, 2008.
The Company has also entered into an Agreement with Oerlikon-Barmag of Germany and TMT of Japan for supply of a Polyester yarn Plant of a capacity of 55,000 tons per annum.
The stock was trading at Rs.58.60, up by Rs.1.15 or 2%. The stock hit an intraday high of Rs.63.50 and low of Rs.57.15. The total traded quantity was 45180 compared to 2 week average of 9630.