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 Fibre2Fashion News Desk – India