Nakoda Textile's Textile Park at Surat to be commissioned in September 2009

Nakoda Textile Industries Ltd (NTIL) has informed BSE that NTIL sponsored Textile Park under the name and style of Surat Super Yarn Park Ltd. (SSYPL) is expected to be commissioned in September 2009. The park is being set up under the Scheme for Integrated Textile Park (SITP) by Ministry of Textiles, Govt. of India.

The Park which is coming up at Village Hathuran in Dist. Surat, Gujarat is 1st of its kind in India for processing of POY to Texturised Yarn. It would provide the complete infrastructure (Factory building, captive power plant, laboratory and other utilities like roads, water, security, crÜches etc.) to 27 enterprises who would be puffing up 108 texturising machines capable of producing 140,000 MTPA of Texturising Yarn. The Rs 107 Crore project is being implemented by Infrastructure Leasing & Financial Services (ILF&S) as project Management Consultants.

NTIL the core sponsor has contributed 18.5% to the total equity of Rs 16 Crore of the company. SSYPL is raising the balance Rs 91 Crore through Govt. grant of Rs 40 Crore and term loans aggregating Rs 51 Crore. NTIL shall be installing its own 20 Nos state of the art texturising machines in the park as part of its forward integration plan for producing 28,800 MTPA of texturised yarn.

NTIL shall be engaging good number of texturising units in the Park for doing job work for it. NTIL is expected to became India's first integrated yarn company after completion of its own Rs 333 Crore backward integration, expansion and diversification scheme as it would be producing value added products only i.e. Fully Drawn Yarn (FDY) and Texturised yarn. NTIL, already one of the largest FDY manufacturer in India shall be producing 60,000 MTPA (existing 19500 MTPA) of the same on completion of the scheme. Like Texturised Yarn, FDY is also a high value added product which goes directly to weavers.

Source : Equity Bulls

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