New Delhi, December 17, 2007: The country’s market leader in tyre cord business and refrigerant gases and a preferred supplier of polyester films in the domestic market, SRF Limited plans to invest Rs. 257 crore in two separate projects. The proposals were approved by the SRF board in a meeting held this afternoon.
One of the projects will entail setting up of a second line of Biaxially Oriented Polyester (BOPET) Films with a capacity of 27,000 MT at an estimated cost of around Rs 165 crore. The project has been taken up by SRF in view of the excellent growth opportunities in packaging films business which has been growing at around 25% per annum for the last years. The project on implementation will increase SRF’s annual capacity to 55,000 MT of polyester films. The existing plants of SRF for its packaging Films Business are located at Indore and Kashipur. The location for the new line is yet to be decided.
The second project which was approved today pertained to setting up of a 15 MW wind energy project to produce ‘green power’ in Tamil Nadu at a total investment of Rs. 92 crore. The wind energy plant will meet the captive power requirements for SRF’s three Tamil Nadu based units under its Technical Textiles Business (TTB). This will be implemented as a Clean Development Mechanism (CDM) project.
The wind power project, which is expected to be commissioned by March 2008, aims to substitute a part of the grid power consumption of the 3 units of SRF’s Technical Textiles Business in Tamil Nadu. The generated power from the Wind Turbine Generators will be supplied to the units through wheeling via Tamil Nadu Electricity Board (TNEB) grid network.
