Nakoda commences production in Korea

Nakoda Limited (BSE code: 521030), one of India’s largest players in the fully drawn yarn segment, has commenced the commercial production in South Korea at a plant acquired through its subsidiary Indo Korean Petrochem Ltd. The Korean unit has a capacity to manufacture 150 tons per day (tpd) of Fully Drawn Yarn (FDY), 90 tpd of Partially Oriented Yarn (POY) and 60 tpd of Polyester Chips.

Commenting on the occasion, Mr. Babubhai Jain, Chairman & Managing Director of Nakoda Limited said, “South Korea is facing a unique situation of surplus of raw materials – i.e. PTA and MEG on one hand, and dependence on import of FDY, POY and Polyester Texturised Yarn (PTY) on the other. Nakoda plans to cash in on this opportunity by selling its major production in South Korean market, and substitute imports in South Korea. Nakoda will also enjoy the benefit of a very low capital cost project which will give it an edge over its peers in South Korea.”

About Nakoda Limited:
Nakoda, an ISO 9001 - 2000 company, is one of the prominent players in the Polyester Filament Yarn Industry in the country. From a modest capacity of 354 MTPA in 1986, Nakoda grew to 50,000 MTPA capacity company by 2008. With the completion of its ongoing backward integration/ expansion / forward integration project with a capital outlay of Rs 333 Cr, Nakoda will achieve a capacity of 1,40,000 MTPA by the end of September, 2010. Nakoda is contemplating further investments of over Rs 1,500 Cr to raise the capacity to a level of 5,00,000 MTPA in India and for future overseas acquisitions.   

Nakoda ranks amongst top 500 in Indian companies according to the research carries out by Business India as well as Financial Express.