Aditya Birla Group to Invest Rs.2,665 Crore in Turkey
Facebook Twitter google+ RSS Feed

Aditya Birla Group to Invest 2,665 Crore in Turkey

Thursday, 29 December 2011, 14:57 Hrs
Printer Print Email Email


Mumbai: Aditya Birla Group, the $35 billion multinational corporation, plans to invest $500 million (approximately Rs 2,665 crore) over the next five years to set up a Viscose Staple Fibre plant in Turkey's Adana Organised Industrial Zone.

"In the Viscose Staple Fibre (VSF) sector, we are reckoned as a marquee Group with over 21% of the global market share. For us in the Aditya Birla Group, VSF is a core business.

"Our aspiration is to significantly ramp up our global market share and our capacities by the turn of the decade. Establishing a world-class plant in Turkey is a step in this direction," Aditya Birla Group chairman Kumar Mangalam Birla said in a release today.

The group proposes to invest $500 million over the next five years to set up a 180 ktpa fully integrated VSF plant, with a captive power plant, CS2 plant and sulphuric acid plant in two phases.

"Currently, our VSF manufacturing capacity is 750 ktpa. Our ambition is to raise it to 1.1 million tons by 2015. We expect to commission our plant in Turkey by early 2015. This capacity in Turkey will cater primarily to the textile industries here.

Currently, 100% of VSF used in the textile and non-woven sectors is imported. Turkey, I believe is the 4th largest consumer of VSF in the world," company's Global Director of the VSF Business K K Maheshwari said.


Source: PTI
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset
SPOTLIGHT