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Reliance implements large polyester projects in India
India Blooms News Service
Mumbai, Apr 13 (IBNS) Reliance Industries Limited (RIL) has commenced implementation of its planned world-scale projects in India across the polyester chain.
This is RIL’s largest capacity expansion in the sector and is aimed at consolidating its position as the world’s largest integrated polyester producer. These investments in new polyester capacity will also strengthen India’s position as a global manufacturing hub for textiles and fibre, said the company.
The global supply constraints, substantial price increase and uncertain outlook for cotton availability is creating considerable substitution opportunities for polyester products like Polyester Filament Yarn (PFY) and Polyester Staple Fibre (PSF).
It is expected that polyester will capture around 80% of incremental global fibre demand of around 2.9 million tons per annum over the medium to long term.
Demand for Polyethylene Terephthalate (PET), which is already India’s fastest growing polymer is also poised for exponential growth due to continued demand in the bottling, packaging and food & beverages sectors.
With its strong manufacturing presence in India & Malaysia, cost leadership position and wide product range, Reliance is uniquely positioned to benefit from this market growth.
RIL has planned its capacity expansion in phases over the next few years.
This includes a planned capacity of 2.30 million tons of PTA at Dahej with the ability to increase it by another 1.15 million tons of PTA at a later stage.
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of Rs 2,00,400 crore (US$ 44.6 billion), cash profit of Rs 27,933 crore (US$ 6.2 billion), net profit of Rs 16,236 crore (US$ 3.6 billion) and net worth of Rs 1,37,171 crore (US$ 30.6 billion) as of March 31, 2010.
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