Indian-based technical textile maker SRF Ltd. plans to invest Rs 665 crore on expansion projects, including a new plant in South Africa and another in Gujarat, according the Economic Times.
“While we are determined to expand operations in all our businesses to achieve and retain global leadership, the expansion in the chemicals and the packaging films businesses is part of our overall strategy and ongoing efforts to reduce our dependence on nylon tyre cord,” SRF MD Ashish Bharat Ram said.
The plant in South Africa will be dedicated to biaxially oriented polypropylene (BOPP), while the Bangladeshi plant will be dedicated to biaxially oriented polyethylene terephthalate (BOPET).