Jardosh sees Avgol Nonwoven save $25m a year in forex outflow
The Production Linked Incentive (PLI) Scheme and Israeli-Singapore backed Avgol Nonwoven’s New Manufacturing facility at Halol in Gujarat will lead Indian textile sector achieve the desired scale and size as well as compete in the international markets from specifically designed PM MITRA parks.
Inaugurating the facility, an investment by Tel Aviv’s Avgol Industries 1953 Ltd and Indian origin international group Indorama, Minister of State for Textiles Darshana Jardosh, said the plant will save forex outflow of US$25 million a year for India.
The plant is designed to generate Rs.200 crores revenue with an annual capacity of 10,000 MT specialty nonwoven fabrics, using Israeli technology from Avgol.
The plant’s first phase cost Rs.175 crore and was completed within 12 months from greenfield.
Built as per IGBC green building norms and aspired to be Platinum rated certification, the plant is ready for production, noted the Minister, adding that the plant is under 100% FDI allowed by the Government.
The new manufacturing facility has about 12-acre land sufficient for Non-woven Line expansion up to 3 High Speed lines.
Jardosh highlighted that the Government’s focus is on Five Fs – Fibre to Farm to Fabric to Fashion to Foreign, contributing to India’s man-made fibre with aim for a global market share of 25%.
In 2018, Indorama Ventures Limited (IVL) – a world-class chemicals company with a global integrated leader in PET and fibers serving major customers in diversified end-use markets – acquired a majority ownership of the company.
Following its core strategies, IVL develops innovative products for customer needs and to make great products for society. Headquartered in Bangkok, IVL has operating sites in 31 countries on five continents, in Africa, Americas, Asia, Europe and Eurasia
Indorama Corporation is one of Asia’s leading chemical holding company based in Singapore. Its origins trace back to 1975 with the start of Indorama Synthetics in Indonesia by its founder, M.L. Lohia, and his son, S.P. Lohia.
Indorama Synthetics started as a cotton yarn spinning company. In 1991, the company diversified into the production of polyester fibers from petchem derivatives.
Avgol Industries 1953 Ltd (AVGL.TA) is a global leader in the manufacture of high-performance spun melt nonwoven materials for a wide range of market sectors including hygiene, medical and functional materials.
The 1,000-acre PM MITRA is Prime Minister’s Mega Integrated Textile Region and Apparel park scheme near the textile hub of Surat or Bharuch by Gujarat Industrial Development Corp. fiinews.com
