SRF, a diversified company with interests in textiles, chemicals and packaging films today announced the setting up of a joint venture company in Bangladesh.
The company's board approved a 80:20 JV with Nitol Niloy group in Bangladesh to manufacture BOPET film (28500 TPA) and a metallizer (7043 TPA), with the Indian company holding the majority.
SRF would invest $52 million (about Rs 230 crore) in the JV which will see a total capital investment of $65 million (about Rs 290 crore), the company said in a statement sent to the Bombay Stock Exchange.
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