Polyester yarn manufacturer Filatex India NSE 2.50 per cent plans to invest around Rs. 400 cr in expanding the capacity of its plants in Dadra and Dahej, besides setting up a captive power plant to reduce the company’s energy costs. The Delhi-based company has earmarked Rs. 275 cr to augment the yarn manufacturing and polymerisation capacity of its plants from 3.28 lakh MT per annum to 3.65 lakh MT by next year.
A 30-MW captive power plant, with an investment of Rs. 145 cr, in Dahej would be operational by 2020. “The environmental clearance for the plant is in advanced stage,” said Madhu Sudhan Bhageria, Chairman & Managing Director, Filatex India. The company, which exports manmade yarn to 34 countries globally, also has in the pipeline a fabric plant to make fabrics from the yarn it produces. Its yarn is used in manufacture of carpets, rugs, tapes, ribbons and zippers. On the US’ recent move to end preferential benefits to Indian exports, Bhageria said the industry is unlikely to get impacted majorly.
Processed food; leather products other than footwear; plastic products; building material & tiles; hand tools such as spanners, wrenches, drilling equipment; engineering goods such as spark ignition, turbines and pipes, parts of generators, cycles; made-ups including pillow/cushion covers; woven women’s dresses were eligible for higher benefits under the US’ Generalized System of Preferences scheme.