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NEW DELHI: Fiber cotton manufacturer Ganesh Polytex is planning to set up a recycled POY yarn manufacturing facility with an investment of Rs 35 crore, a senior company official said here on Tuesday.

“The company is looking at setting up a new unit for manufacturing POY yarn. The total investments in the project would be around Rs 35 crore,” Ganesh Polytex Chief Financial Officer Mr Gopal Agrawal said.

The proposed unit would either come up inside the company’s existing plant located at Rudrapur in Uttrakhand or the company may opt for a new location, Mr Agrawal said. It would take another six to eight months to set up the unit, he further said.

“The new unit would start manufacturing in the financial year 2011-12 and the company is targeting to increase the production of POY yarns to 10,000 tonnes per annum in the next three-four years in a phased manner,” he added.

Besides, the company is also investing in increasing its capacity to manufacture fiber cottons. - PTI

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