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RIL to shut down its Polyester facility
18 Dec '08
1 min read
Reliance Industries have started feeling the heat of global financial meltdown.
The situation has worsen to the extent that RIL authorities are seeking permission to shut down one of the polyester units with capacity of 20,000 ton per annum, located at Boulapur in Orissa's Dhenkanal district.
Sources said that the Company is forced to take such actions because of less demand from the down stream industry.
Experts opine that demand for polyester staple fibres remains depressed in India, in line with the low level in spun yarn production. Thus polyester staple fibre prices went down in the recent weeks.
The situation has worsen to the extent that RIL authorities are seeking permission to shut down one of the polyester units with capacity of 20,000 ton per annum, located at Boulapur in Orissa's Dhenkanal district.
Sources said that the Company is forced to take such actions because of less demand from the down stream industry.
Experts opine that demand for polyester staple fibres remains depressed in India, in line with the low level in spun yarn production. Thus polyester staple fibre prices went down in the recent weeks.
Fibre2fashion News Desk - India
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