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« Chidambaram requests banks not to hike interest rates | Home | Finance Ministry clears nine FDI Proposals »

Indorama to Invest in Himachal

The Indonesia-based Indorama SPL group is all set to invest 400 crores in Himachal Pradesh. The SP Lohia promoted group has will be setting up a stretch fabric manufacturing unit in Himachal Pradesh, a senior official said Thursday. Functionaries of the group, including its managing director Amit Lohia, met senior officials of the industries department here Wednesday to finalise the modalities for investing in the state. Industries director Manoj Kumar said that the group would establish a spandex manufacturing plant, a first of its kind in the country.

The Indorama SPL group is a global manufacturer of diversified industrial products with a focus on petrochemicals – polyolefin, polyester, spun yarns, textiles and medical gloves. It also has business interest in packaging, power, real estate and fertilizer. The company is the second largest polyester producer in the world with capacity of 2.2 million tonnes per annum. It also has a polyester yarns and fibers manufacturing unit in Nagpur. Kumar said an Indorama team had inspected various sites in the Baddi industrial corridor, 110 kilometers from here and that a site will be handed over to it by the State government once it selected.

News Published Under:   FDI, Real Estate India | No Comments »

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