Sutlej to invest 492 cr by FY'10

New Delhi, May 10 (UNI) Sutlej Industries Ltd will invest Rs 492 crore over the next three years on expansion, modernisation and technology upgradation projects.

''We are coming up with the first captive thermal power plant in Bhawanimandi, Rajasthan and Bhilad in another 12 to 15 months which is expected to cut down the power cost by 25 to 30 per cent,'' company's Vice-Chairman C S Nopany said.

With an initial capacity of 2.01 lakh spindles, the company will add 22,944 spindles during the first quarter and 31,104 spindles by the last quarter of fiscal 2008-09 and 24,768 spindles by first quarter of FY10, he added.

As part of its modernisation plans, Sutlej will invest Rs 93 crore over the next two years.

Replying to a question, Mr Nopany said the company was expecting a revenue growth of 20-25 per cent in the current fiscal.

The Indian textile and clothing industry is expected to reach a size of 110 billion dollars from the current level of 52 billion dollars in FY06, recording a growth of 10 per cent in domestic household market and 19 per cent in export and over all growth of 13 per cent.

The domestic and export market is estimated to achieve size of 60 and 50 billion dollars in FY'12 from the present level of 34 billion and 18 billion dollars.

UNI