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Nakoda Textile Industries Ltd, engaged in the manufacture of POY, FDY and texturised yarn, is investing over Rs 300 crore on capacity expansion.
P.S. Misra, General Manager (Finance), Nakoda Textile Industries Ltd, told Projectmonitor that the company had taken up a massive expansion programme with an investment of Rs 333 crore. "We will be expanding the texturising capacity from the existing 1,070 tpa to 28,800 tpa, at the textile park coming up at Hathuran near Surat in Gujarat. Work is likely to start by July-August this year and is expected to complete by mid-2010," Misra explained.
"We are also planning to expand the FDY capacity from 20,000 tpa to 70,000 tpa where the POY capacity will remain the same at 30,000 tpa. Work on the FDY expansion will begin by 2010 at the exsiting plant in Surat. After completion, the entire capacity of POY and FDY will be 1 lakh tpa."
Misra further said that the company had tied up with leading banks to finance the project. About Rs 250 crore will be met through debt and the rest through equity and promoter's contribution.
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