Singapore-based Indorama Corp today said it plans to double production capacity of spandex fibre, used in various applications like stretch denims and sportswear, to 10,000 tonnes per annum by the end of 2014 at its Indian facility.
The company, which is present in India through its wholly-owned subsidiary--Indorama Industries Ltd--currently manufactures 5,000 tonnes of spandex fibre per annum under 'Inviya' brand at its Baddi (Himachal Pradesh) plant.
"We are in a phase of growth in the country and have now decided to ramp up our production by 100 per cent," Indorama Corporation Group Managing Director Amit Lohia said in a statement here.
He added that the company's Baddi plant has the capacity to support 15,000 tonnes of spandex production.
"...We aim to double our capacity to 10,000 tonnes by next year, and then add another 5,000 tonnes later. The capacity increase will also benefit us to absorb overheads and reduce per unit cost," Lohia said.
The company, which claims to be the sole manufacturer of spandex yarn in India, had invested Rs 400 crore in early 2012-13 for spandex yarn production in India.
"Second phase of our production is in line with our goal of meeting the country's present requirement of 8,000 to 10,000 tonnes and also emerging as a leading exporter of Spandex yarn in the next couple of years," Lohia said.
Indorama Corporation Ltd, a $10 billion company, has global presence in textile raw materials and petrochemicals. It has 42 manufacturing facilities in over 22 countries.
