India's Wellknown targets polyester expansion in Q4 2012

12 April 2012 16:34  [Source: ICIS news]

MUMBAI (ICIS)--India’s Wellknown Polyesters plans to start operations at a new 600 tonne/day polycondensation unit at Daman in the fourth quarter of 2012, a company source said on Thursday.

"The start-up will be in a phased manner in Q4 but we could phase out commissioning over a longer period, depending on market conditions," said the source.

With the new unit at its Daman site, Wellknown’s total polycondensation capacity will reach 950 tonnes/day, the source added.

The facility produces direct spinning yarns, including partially oriented yarn (POY), fully drawn yarn (FDY) and drawn texturised yarn (DTY).

Wellknown has cut its run rate to 80–85% since early this year because of weak demand. This compares with an overall operating rate of around 85% in 2011, the source said.

Overcapacity of polyester yarn and slower economic growth in India have hit the industry, the source added.

Additional reporting by Malini Hariharan

By: Becky Zhang
+65 6780 4359

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