Nakoda Ltd, a polyester filament yarn producer, plans to double its polymerisation capacity to 280,000 tonnes per annum over three years at the company's existing plant at Surat in Gujarat.
The Rs 1,935 crore expansion would be funded through internal accruals and the company proposes to raise debt of Rs 1,550 crore through term loans. The company has Rs 135 crore from its GDR proceeds which will also be utilised for its expansion. Once completed, the expansion will enable the company to supply the entire range of polyester yarns in the domestic and international markets.
Nakoda currently has a capacity to produce 50,000 TPA PET (polyethylene terephthalate) chips, 30,000 TPA of POY (partially oriented yarn) and 60,000 TPA of FDY (full draw yarn). It also has texturising facility of 30,000 tonnes.