Surat Super Yarn Park Ltd., is expanding its production capacity of texturised yarn from 140,000 MTPA to 151,000 MTPA. The expansion is being implemented by Nakoda Textile Industries Ltd. (NTIL), which is the main sponsor of Surat Super Yarn Park Ltd (SSYPL).
The textile park has been set up under the government's scheme for integrated textile parks with the core objective of providing sound infrastructure facilities to small and medium-sized companies. The park provides infrastructure in terms of factory buildings, captive power plant, laboratory and other utilities like road, and water to 27 enterprises who would be putting 108 texturising machines capable of producing 151,000 MTPA texturised yarn.
Nakoda Textile Industries Ltd., the core sponsor, has contributed 18.5 per cent to the total equity of Rs. 16 crore of company. The park is eligible for grant of Rs 40 crore from Government of India of which Rs 24 crore already received. The Rs 107 crore project is being implemented by IL&FS as project management consultant.
Speaking on the company’s expansion plan, Babubhai Jain, chairman and managing director of Nakoda textile Industries Ltd., said, "The company is gearing itself up in terms of capacity and quality to capture the upcoming opportunities in the textile field in India. We are expecting to become India’s first fully integrated polyester yarn company after completion of our Rs. 333 crore backward integration, expansion and diversification project."
On its part, Nakoda Textile Industries Ltd. is expected to complete a Rs 333 crore worth backward integration, expansion and diversification project which includes producing value added products like fully drawn yarn (FDY) and texturised yarn. Nakoda Textile Industries Ltd., already one of the largest FDY manufacturer in India shall be producing 60,000 MTPA of the same on completion of the project.
