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Alok Industries comes up with Rs 8 billion capex plan for next two years
23
Nov '10
According to a company source in Mumbai, the Alok Industries Ltd, which is one of the major textile manufacturers, has designed a Rs 8 billion capex plan for the coming two years.

Mr. Sunil Khandelwal, the CFO of Alok Industries revealed that the company has already invested
Rs 70 billion in the past six years for its expansion program. The company, in the coming two years, is expected to invest another Rs 4 billion to Rs 4.5 billion every year for the expansion program that is still continuing.

Khandelwal added that the company is likely to fund the specified amounts through its in-house accruals and debt obligations. He further added that the company has prepared a rights issue by collecting Rs 4.4959 billion the previous year and a QIP of Rs 4.25 billion in March this year.

He also pointed out that the company is trying to acquire funds by means of the TUFF scheme of the government.

During the fiscal year 2010, the company has undergone a capital outlay of Rs 15.229 billion across its different divisions. The major share of these expenditures went for the Phase III and Phase IV expansions, which have been wholly accomplished, thereby establishing the second Continuous Polymerisation (CP) Plant at Saily in Silvassa and expanding the texturizing as well as usual capital expenditure.

Fibre2fashion News Desk-India

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