Sutlej Textiles & Industries Ltd: Sutlej Textiles to set up green fibre project in J&K
Sutlej Textiles and Industries, an India based
integrated textile manufacturing
company, will be setting up a green fibre project at Samba in Jammu and
Kashmir. The new plant will manufacture polyester staple fibre (PSF) by recycling PET bottles. Meanwhile, Sutlej
has deferred brownfield capacity expansion plan of 28,800 spindles at Baddi,
Himachal Pradesh.
In its filing with the stock exchanges, the company said that
its board at its meeting held on January 8, 2018 has considered and approved
“setting up of a green fibre project to manufacture polyester staple fibre by
recycling of PET bottles at Samba, Jammu and Kashmir.”
The board also approved “deferment of brownfield capacity
expansion plan of 28,800 spindles at Baddi, Himachal Pradesh, due to the
uncertain market conditions in the yarn segment.”For the first half of fiscal
2017-18, Sutlej recorded total income of Rs 1,272.75 crore, an increase of
12.75 per cent over total income of Rs 1,128.86 in the first half of the
previous fiscal. (RKS).
Source: Etretail.com,India
Thursday, 11 January 2018