According to Fibre2fashion, SRF Ltd plans to spend Rs. 5 billion for capacity expansions, including the establishment of India’s first plant to produce polyester tire cord. Other expansions include packaging film. SRF, which is a leading Indian producer of tire cord and chemicals, made two major acquisitions this year, including a tire cord company in Thailand and a belting fabric producer in South Africa. Through a combination of acquisitions and internal growth, SRF plans to nearly double its revenue by the end of its fiscal year March 31, 2012.
SRF is building a plant at its factory in Gummidipoondi in the southern Tamil Nadu state to produce 4,000 tonnes of polyester cords a year. Production is expected to start as early as February 2009.