Alok Industries mulls Rs 800 cr capex in next 2 year's period

MUMBAI: Leading textile player, Alok Industries Ltd has drawn up Rs 800 crore capex plan for the next two years period, a top company official said in Mumbai.

"We have invested Rs 7,000 crore in the last six year's period in our expansion programme. In the next two year's period, we will further invest around Rs 400-450 crore per annum for our on-going expansion plans," Alok Industries CFO, Sunil Khandelwal said on the sidelines of a conference here.

The company will finance the said funds through internal accruals and debt, Khandelwal said, adding that it has already made a rights issue aggregating Rs 449.59 crore last year and an QIP of Rs 425 crore in March 2010.

The company also seeks funds through government's TUFF scheme, which is expected to revive now, he said.

During FY10, the company had incurred a capital expenditure of Rs 1,522.90 crore across various divisions. A major portion of these were towards Phase III and Phase IV expansions, which have been fully completed, setting up of second Continuous Polymerisation (CP) Plant at Saily in Silvassa, expansion of texturising and regular capex.