Indorama Corp, a Singapore-based textile raw material and petrochemicals producing firm, which marks its presence in India through its fully-owned subsidiary – Indorama Industries Ltd – has unveiled its plan to increase the spandex production capacity at its Himachal Pradesh-based facility to 10,000 tons per annum by 2014-end.
The company, claiming to be the sole producer of spandex yarn in India, presently churns out 5,000 tons of spandex yarn each year at its plant based in Baddi in Himachal Pradesh. The yarn, being sold under brand name ‘Inviya’, finds utility in production of stretch denims and sportswear. Announcing the expansion plan, Mr. Amit Lohia, Managing Director, Indorama Corporation, said the capacity addition plan forms a part of their ongoing expansion drive in India.
Given that the plant is actually enabled to support production of 15,000 tons of spandex, he said they mean to boost their production to 10,000 tons by 2014-end, and then would eye to tap the rest 5,000 ton capacity.
Enhanced capacity utilization would also help them to bring down per unit cost and absorb overhead expenses, he added. Having invested about four billion rupees in spandex yarn production in India in early 2012-13, the company is currently in its second phase of expansion in India. The second phase of expansion, Mr. Lohia said, corresponds to the company’s aim of first catering to the India’s spandex requirement, which is around 8,000-10,000 tons per annum, and then growing into a leading exporter of the spandex yarn over the next two years. The US$ 10 billion Indorama Corporation Ltd operates 42 production facilities in more than 22 countries, including India.
