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News Flash
Grasim eyes Pakistan and Bangladesh as potential destinations for VSF business
28 Oct '05
1 min read
Textile companies of Pakistan and Bangladesh have accepted the Grasim Industries proposal of Viscose Staple Fibre (VSF) business.
An Aditya Birla group company Grasim Industries eyes this as a great business opportunity, according to Sanjeev Bafna, Grasim Joint President and Deputy Chief Financial Officer.
Last few years has witnessed growing demand for VSF from Pakistan and Bangladesh. Simultaneously, Pakistan has also acquired a successful leadership in VSF, since last year.
The company is looking forward to a great potential for its business in these two countries, he said.
He also added that company would also propose to establish a pulp plantation plant in China, covering an area of 50,000 hectares over a period of seven years.
Grasim will invest 51 percent of the capital in the project and remaining would be borne by its two overseas partners, informed Bafna.
The project would be operative five years, which would be a significant cost cutting initiative for the company, he added.
An Aditya Birla group company Grasim Industries eyes this as a great business opportunity, according to Sanjeev Bafna, Grasim Joint President and Deputy Chief Financial Officer.
Last few years has witnessed growing demand for VSF from Pakistan and Bangladesh. Simultaneously, Pakistan has also acquired a successful leadership in VSF, since last year.
The company is looking forward to a great potential for its business in these two countries, he said.
He also added that company would also propose to establish a pulp plantation plant in China, covering an area of 50,000 hectares over a period of seven years.
Grasim will invest 51 percent of the capital in the project and remaining would be borne by its two overseas partners, informed Bafna.
The project would be operative five years, which would be a significant cost cutting initiative for the company, he added.
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