Textile player, Siyaram Silk Mills, has unveiled its plans to pump between Rs 60-80 crore in the coming three years with the aim to open 200 stores in India and the Middle-East as well as grow its fabric business in the worldwide market.

The sources said that the company intends to roll out 115 outlets of J Hampstead, Oxembourg, Siyaram MSD and its flagship brand Fabric to Fashion (F2f) by fiscal 2012.

At present, the company is having 85 stores across India and four in the Middle-East.

The company stated in a communiqué that the new stores will be a mix of company-owned and franchisee stores.

The source said that Maharashtra and Andhra Pradesh are the two states which are under company's consideration for rolling out new outlets this fiscal.

The company has also decided to expand its footprint in Rajasthan, Uttar Pradesh and Madhya Pradesh where it is already present.

As per media reports, the company is eyeing to expand in Qatar and the United Arab Emirates, where it already has a presence through four Siyaram MSD outlets.

The company has set aside an investment of Rs 10-15 crore in FY 10, which will be expended in upgrading its manufacturing units at Daman, Silvassa and Tarapur.