ALSO READFilatex India zooms 29.22% in eight sessions Filatex India declines on profit booking Filatex India standalone net profit declines 3.47% in the March 2017 quarter Filatex India receives revision in credit ratings High Street Filatex reports standalone net loss of Rs 0.02 crore in the March 2017 quarter
Completes financial closureFilatex India provided update on the capacity expansion project undertaken by the Company. The Company is putting up additional manufacturing facilities for 190 TPD of Bright Polyester Fully Drawn Yarn, 50 TPD of Semi Dull Fully Drawn Yarn, 25 TPD of Bright Polyester POY and 85 TPD of Bright Chips at an estimated capital outlay of Rs 330 crore.
The Company has completed financial closure with the lenders for Rupee and Foreign Currency Loan. The orders for major plant and machinery, both imported and indigenous have been placed. The civil work has already been commenced and the project is progressing as per schedule.
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