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Nakoda Ltd., has signed an Asset Purchase Agreement with Kyunghan Industry
Company Ltd. for acquisition of their entire manufacturing facilities
located at Kyunghan in South Korea through its subsidiary Indo Korean
Petrochem Ltd. The total capital investment for the Korean Venture would be
USD 40 mn. Kyunghan is located in the industrial hub of synthetic fiber
manufacturing in South Korea with good connectivity to Seoul and Busan. The
company will have benefit of easy availability of raw material, abundance of
power, skilled manpower and sophisticated infrastructure.
Nakoda has invested RS 333 crore in its ongoing backward integration/
expansion. With the completion of these projects by September 2010, the
company will have a overall capacity of 1,40,000 MTPA. The company has
planned an additional investment of over Rs 1,500 crore to raise the
capacity to 5,00,000 MTPA and also for future overseas acquisitions.
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