Textiles cos on expansion mode again

According to a Centre for Monitoring Indian Economy (CMIE) study, nine new projects were announced in the second quarter of this fiscal, ending September. It estimated that by March 2010, the capacity of the synthetic fibre industry would be 1,789 million kg against 1,659 million kg at the end of 2007-08. The slowdown had stalled 11 projects involving an investment of Rs 3,500 crore, CMIE data shows.

The new projects, which were announced in the second quarter of this fiscal, included S Kumars’ cotton viscose polyester weaving unit at Dhar (Madhya Pradesh), Samosaran Yarns’ project at Thane in Mumbai and Patodia Filaments’ polyester plant at Dadra and Nagar Haveli.

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