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(projectsmonitor) -- India’s
Nakoda will double the polymerisation capacity at its polyethylene terephthalate
(PET) and polyester yarn plants at Surat in Gujaratto, west India, to 280,000
tonnes/year by 2015, its chairman and managing director said on
Wednesday.
The Rs 1,935 crore expansion would be funded through internal
accruals and the company proposes to raise debt of Rs 1,550 crore through term
loans. The company has Rs 135 crore from its GDR proceeds which will also be
utilised for its expansion.
Once completed, the expansion will enable the
company to supply the entire range of polyester yarns in the domestic and
international markets. Nakoda currently has a capacity to produce 50,000 TPA PET
(polyethylene terephthalate) chips, 30,000 TPA of POY (partially oriented yarn)
and 60,000 TPA of FDY (full draw yarn). It also has texturising facility of
30,000 tonnes.
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