Nakoda invests in Surat Park
Nakoda Textile Industries, a leading polyester-oriented yarn (POY) manufacturer, has acquired 18.5% in Surat Super Yarn Park coming up near Surat.
By ET Bureau |
MUMBAI: Nakoda Textile Industries, a leading polyester-oriented yarn (POY) manufacturer, has acquired 18.5% in Surat Super Yarn Park coming up near Surat. This is the single largest investment by any company in the park. Investment for the park is estimated at Rs 307 crore and is expected to be operational by December.
Nakoda Textile chairman & MD BG Jain said the park would help the company as other occupants of the park will procure its POY to produce textured yarn. ���In order to cater to higher demand, we are expanding our annual capacity from 30,000 tonne to one lakh tonne.
Of this, we plan to set up 20 texturing machines with a capacity of 28,800 tonne in the park,��� he added. The company has also tied up with entrepreneurs in the park to buy drawn textured yarn (DTY). Nakoda will market DTY under its own brand name. It plans to export 20-25% of the DTY produced in the park to the US and Europe.
Surat Super Yarn Park, which will be the country���s largest DTY park, has been set up under the government���s scheme for integrated textile parks to provide state-of-the-art infrastructure facilities to small- and medium-sized companies.
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