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Indian spinning firm to invest $13.8mn for US operations
24
Dec '12
Sarla Performance Fibers Ltd, one of the leading manufacturers of nylon yarns in India, is planning to invest US$ 13.8 million to set up polyester partially oriented yarn (POY) plant along with texturising and twisting facility in the US.
 
Mr. Sunil Jhunjhunwala, vice-president of Sarla Performance Fibers, told fibre2fashion, “We have projected an investment of about US$ 13.80 million to set up polyester POY plant along with texturising and twisting facility in Walterboro, South Carolina, US.”
 
“This will be the first investment made by the company in the US, “he informs.
 
According to him, the company is planning to establish the plant in the US due to proximity of market. “Another reason for establishing the plant in the US is the changes in regulations of Central America-Dominican Republic Free Trade Agreement (CAFTA) and North American Free Trade Agreement (NAFTA),” he adds.
 
Informing further about the new plant, he says, “We have already identified the location and we plan to start the production in second half of 2013.”
 
The Mumbai-based company manufactures and exports polyester and nylon textured, twisted and dyed yarns, covered yarns, high tenacity yarns and sewing threads.
 

Fibre2fashion News Desk - India

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