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SRF to invest Rs 160 cr in polyester film plant
By siliconindia
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Monday, 07 April 2003, 19:30 IST
NEW DELHI: SRF Ltd will invest Rs 160 crore to set up a 20 kilo tonne polyester film plant and raise it to 50 kilo tonne in the next three years.
According to the company's press release, opportunities in the business had turned attractive given the steady growth in domestic demand and export competitiveness in this sector. The company earlier had a small capacity of polyster films at Kashipur which was hived off to SRF Polymers.
The movement into polyster films will give SRF access to an attractive growth market with significant scope to upscale, the statement said, adding, the company was evaluating growth opportunities in its major businesses.
SRF has made major breakthroughs in overseas markets to emerge as the fifth largest producer of belting fabrics in the world, it said, adding, the company has captured a dominating position in the Indian market and was using the platform to launch itself as a leading Asian supplier of nylon tarpaulins and similar applications.
Research was on to develop substitutes for refrigerant gases which are being phased out under the Montreal Protocol.