Technical textile maker SRF Ltd plans to invest Rs 665 crore on expansion projects, which includes a new plant in South Africa and another in Gujarat.
"While we are determined to expand operations in all our businesses to achieve and retain global leadership, the expansion in the chemicals and the packaging films businesses is part of our overall strategy and ongoing efforts to reduce our dependence on nylon tyre cord," SRF MD Ashish Bharat Ram said.
The new plant in South Africa, which will be its second overseas units, will have an annual capacity of 25,000 tonnes. It is being set at a total investment of around Rs 250 crore and is expected to start commercial production in July 2013.
"The new South African plant will also mark SRF's maiden entry into the Biaxially Oriented Polypropylene (BOPP) space. Currently, SRF has an annual capacity to manufacture 59,500 tonnes of Bi-axially Oriented Poly Ethylene Terephthalate (BOPET) films per annum through two of its plants in India," he added.
Earlier in October 2010, the board had approved a joint venture to set up a Bi-axially Oriented Poly Ethylene Terephthalate (BOPET) film plant of 28,500 MT per annum in Bangladesh.
The company has also obtained board approval to set up its second HFC-134a (an ozone friendly refrigerant) plant with an annual capacity of 15,000 tonnes in its chemical complex in Dahej in Gujarat.
The project is expected to be commissioned at an estimated cost of Rs 365 crore.
The capacity of the second HFC-134a plant is much higher than the company's existing 5,000 tonne capacity plant in Bhiwadi.
In order to meet the enhanced requirement of power and utilities for the new projects at Dahej site, the company's board has approved to set up a captive power generation capacity of 14 MW at an estimated cost of Rs 50 crore.
Apart from technical textiles business, SRF is a domestic leader in refrigerants, engineering plastics and industrial yarns as well.
Top Section
Explore Business Standard