Indorama Business Head, Mr R.D. Gupta, told reporters here that the company had already set up a Spandex manufacturing plant with 5,000 tonnes annual capacity at an initial investment of Rs 400 crore.
“The company intends to expand the capacity to 15,000 tonne per annum in two phases by investing Rs 1,000 crore in three phases. This is a state-of-the-art manufacturing set-up equipped with zero-discharge facility as well as rain water harvesting facility,” Mr Gupta said.
Indorama Industries Ltd is a subsidiary of the Singapore-based Indorama Corporation, an $8 billion company with business diversified in polyester fibre, filament yarns, spun yarns, fabrics and other material. It has 38 manufacturing plants in 19 countries and a customer base in over 90 countries.
“India's Spandex domestic growth is expected to be 15-20 per cent compared to the world's growth of 7-8 per cent per annum. Direct consumption of bare Spandex in the country currently stands around 6,000-7,000 tonnes per annum, all of which is imported at present,” Mr Gupta said.
Indorama Director, Mr Rajeev Kshetrapal, said t the company would create over 300 jobs in the hill State in the first phase.
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