Eastern Silk Industries Ltd

Eastern Silk to invest Rs 80 crore

Eastern Silk Industries Ltd has revealed that the company envisages to pump Rs 80 crore at its Bangalore plant for manufacturing velvet and jacquard fabrics.

According to the board members of the company, the proposed unit would be functional by May 2009.

The source close to the company said that these fabrics were required for home furnishing, the market size of which was around Rs 1,000 crore.

Bombay Dyeing and Welspun are the major players in the home furnishing segments.