The Ambika Cotton Mills Ltd is to invest 205m rupees ($4.4m) in a modernisation programme at its spinning units, which the company claims will help it achieve an increased sales turnover in the region of an extra 20 per cent. Speaking to the Hindu Business Line, company managing director, Mr PV Chandran, said: "The modernisation project now underway will bring an additional 130m rupees ($2.8m) turnover, but it may get reflected fully in the 2002-2003 working results".