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Indorama to invest in greenfield spandex manufacturing unit
19
Aug '08
Indorama SPL Group, an Indonesia-based and SP Lohia-promoted company, has plans to set up a stretch fabric manufacturing unit in Himachal Pradesh. The company has business interest in diverse fields including power, petrochemicals and spun yarn and will now venture for establishing a spandex manufacturing plant in the country.

This manufacturing plant would the first of its kind in India since the country produces all textile fibres except for spandex which is used in manufacturing dress material, sportswear, lingerie, shoe soles and upholstery.

Official sources informed Fibre2fashion that the company has plans to invest Rs 4 billion for setting up this plant. Sites for construction have not been selected but the Government has agreed to hand over the land once the selection has been done.

Indorama is reputed for being the second largest polyester producer in the world with a capacity of 2.2 million tons per annum. Additionally, the company also has a polyester yarns and fibres manufacturing unit in Nagpur. The special industrial package given to hilly states by the Central Government is one of the major reasons why the company is betting on business prospects in the textile industry in northern states.


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