INDIA BUSINESS WORLD - JULY 1st - JULY 31st - 2008
NAKODA TEXTILE INDUSTRIES ACQUIRES 18.5% IN SURAT PARK
Nakoda Textile Industries, a leading polyesteroriented yarn (POY) manufacturer, has acquired a 18.5% stake in Surat Super Yarn Park, which is coming up near Surat. This is the single largest investment by any company in the park. The total investment for the park is estimated at Rs 307 crore and it is expected to be operational by December. Nakoda Textile Industries’ chairman and managing director BG Jain said the textile park will help the company as other occupants of the park will procure POY from the company to produce textured yarn. “In order to cater to the increased demand, we are expanding our annual capacity from 30,000 tonnes to one lakh tonnes. Of this, we plan to set up 20 texturing machines with a capacity of 28,800 tonnes in the park,” he added. The company has also tied up with other entrepreneurs in the park to buy drawn textured yarn (DTY) from them.
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