Mumbai, May 25: Krishna Knitwear Technology Ltd (KKTL), headed by Sanjay Kumar Tayal, has designed a Rs 600-crore expansion of its spinning, knitting and processing capacities and manufacture of high-end fabrics.

This is being done to cater to the growing global demand for finished garments and apparels.

The firm plans to raise the money for this expansion through a mix of borrowings and internal accruals. Nearly 70 per cent of the total fund requirement will be mobilised through the Textile Upgradation Fund scheme and remaining from internal accruals.

KKTL has decided to increase its spinning capacity to 3 lakh spindles from the current level of 1.5 lakh spindles, knitting capacity to 50,000 tonnes from 17,835 tonnes and processing capacity to 50,000 tonnes from 25,000 tonnes.

Production of high-end garments will also grow to 10 million pieces from the existing 2 million after the completion of the expansion project by March 2007.

The project will expand the production facilities at Silvassa, Navi Mumbai, Tirupur and Dadar and Nagar Haveli.