Reliance to up polyester capacity by 40,000 tonnes

By siliconindia   |   Tuesday, 26 November 2002, 08:00 Hrs
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Reliance Industries Ltd (RIL) announced Tuesday that it has awarded Zimmer AG of Germany an order to build a polyester staple fibre (PSF) plant at Hazira, Gujarat. The new plant will have a production capacity of 40,000 tonnes of PSF per year.

MUMBAI: PSF will be processed in the Indian textiles industry, mainly for blending with cotton. Zimmer will supply the technology, basic engineering and equipment and supervise the erection and commissioning activities. RIL is the world's second largest polyester yarn and fibre producer with facilities spread across the country. The product range has a focus on speciality fibre grades and colours. It has a world-wide exports market like USA, Europe, Turkey and many developing and emerging markets. On commissioning of the new plant, Reliance will command a total production capacity of nearly 850,000 tonnes per year of polyester filament and staple fibre. Reliance Group founded by Shri Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of Rs 65,000 crores (US$ 13.3 billion), cash profit of over Rs 7,500 crores (US$ 1.5 billion), net profit of over Rs 3,600 crores (US$ 740 million) and exports of Rs 11,400 crores (US$ 2.3 billion). The Group has total assets of Rs 69,000 crores (US$ 14.1 billion). The Group's activities span petrochemicals, synthetic fibres, fibre intermediates, textiles, oil & gas, financial services, refining & marketing, power, insurance, telecom and infocom initiatives. Reliance emerged as India's Most Admired Business House, for the second successive year in a Taylor Nelson Sofres - Mode (TNS-Mode) survey for 2002. RIL is India's largest private sector company on all major financial parameters with gross turnover of 57,120 crores (US$ 11.7 billion), cash profit of 6,643 crores (US$ 1,361 million), net profit of 3,243 crores (US$ 665 million), net worth of 27,812 crores (US$ 5.7 billion) and total assets of 56,485 crores (US$ 11.6 billion). RIL has emerged as India's first private sector company, in the Global 500 list of the world's largest corporations.