SEL Manufacturing Company Limited has informed that the company’s board of directors has approved Rs 611.67-crore expansion project for setting up largest technical textile manufacturing facility in Punjab.

The project, being opted under Textile Up-Gradation Fund Scheme, would set up facility to manufacture technical textiles having a capacity of 90 TPD. The project would have 4 different production lines - Spun Lace, Air-Lay, Geo-textile and Needle Punching.

Ludhiana-based SEL Manufacturing engages in the development, manufacturing, and marketing of yarns, knitted fabrics, and ready-made garments in India and internationally. The company also exports its products to Russia and the Middle East.

At 12:14 pm, SEL Manufacturing was quoting at Rs 385, down Rs 9, or 2%. It has touched an intraday high of Rs 395 and an intraday low of Rs 382.