Web Exclusive | March 2017
KSIC setting up 2nd silk unit in Mysuru
In order to meet the growing demand, the Karnataka Silk Industries Corporation (KSIC) is setting up a second integrated silk weaving unit in Mysuru at a cost of Rs 24 crore, which will begin operations by July 2017. The first unit set up in 1912 by the Nalwadi Krishnaraja Wadiyar has 139 power handlooms and produces 35,000 metre of silk cloth per month.
“The new unit will have 60 power handlooms and produce 2,600 pieces of Mysuru silk zari sari per month and also 2,10,000 metre of silk materials,” KSIC Chairman MK Somashekar said.
According to the chairman, KSIC has been generating profits since the last 11 years. In fiscal 2015-16, it reported revenues of Rs 157 crore and profit at Rs 22.80 crore.