Comments
Nakoda Ltd is establishing a new plant at an investment of Rs 1,935 crore for the manufacture of partially oriented yarn and fully drawn yarn to cater to the entire range of polyester yarns.
The investment would be made through equity, internal resources and a long-term debt, the company informed the BSE today.
The company’s board has approved the proposal to go for capacity expansion at a new location by setting up a 2,80,000 MTPA plant comprising continuous polymerisation and direct melt spinning for the manufacture of FDY and POY.
The project, once completed, would enable Nakoda to cater to the demand for the entire range of polyester yarns in domestic and international markets.
The equity for the project had already been raised through GDRs and also through preferential allotment to the promoters and strategic investors.
Giving details of the expansion scheme, Nakoda said it would have modern R&D facilities to develop speciality yarns and nearly half of the production would be used in-house at Surat Super Yarn Park Ltd which is located near the project site.
It would be a fully automated and integrated polyester filament yarn plant and would bring significant savings in packaging costs to the company.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.