FY18 has been a significant year for Sutlej Textiles and Industries Ltd. The company is continuously expanding capacity, modernizing plants, setting up a new plant in J&K and made an interesting acquisition in the US to strengthen its home textile business.
Sutlej is setting up a greenfield project to manufacture polyester staple fibre by recycling of pet bottles at Samba in Jammu & Kashmir. The company is setting up a recycled PSF plant of 80 MT/day capacity with product range of raw white recycle fibre & black recycle fibre. The project costing Rs. 110 crores is expected to be completed by the second quarter of 2020.
Sutlej has also invested around Rs. 51 crores in the first nine months of 2018-19 towards technology upgradation and debottlenecking. This will result in further improvement in efficiency and sustaining plant utilization.
The company has already commenced commercial production of 35,280 spindles at Bhawanimandi in Rajasthan at a project cost of Rs. 270 crores. This will be a dedicated capacity focused towards producing value-added cotton and cotton-blended dyed and mélange yarn.
As part of the company’s strategy to enhance its presence in the home textiles business, Sutlej acquired the Design, Sales and Distribution (DS&D) business along with brands of America Silk Mills LLC (ASM). The acquisition will increase its footprint in the US market and will the add the strength of ASM to its home textile portfolio.