First Winner Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 26, 2010, approved the following proposal unanimously:
The Company is proposed to expand its weaving capacity, set-up of new yarn dyeing plant of 4 tons / day capacity and sizing plant on its existing unit situated at N 66, MIDC, Boisar, Tarapur, Dist. Thane with an investment of Rs. 55 Crore, which shall be funded through debt of Rs. 34 Crore and Rs. 21 Crore by way of fresh equity or internal accruals or unsecured loans or combination of all subject to approvals of shareholders.