06 September 2010 08:16 [Source: ICIS news]
MUMBAI (ICIS)--India-based textiles firm Alok Industries plans to double its polyester yarn capacity to 400,000 tonnes/year by December to meet the growing demand for the product, a company source said on Monday.
The company would invest around Indian rupees (Rs) 3bn ($65m) to double the polyester yarn capacity at its facility at Silvassa in the union ?xml:namespace>
Alok, which was also increasing production capacity of its other textile products, expected to spend around Rs7bn in the current financial year ending March 2011 on this expansion programme, he added.
The company planned to fund its expansion through internal resources and sales of properties, he said.
Domestic demand for Alok's products was strong given that India's textile industry was growing at a fast pace, he said, adding that export prospects were also very good.
Reliance Industries and Alok Industries are two of
($1 = Rs46.46)
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