SRF plans to invest Rs 257 cr in two separate projects

Chennai, Dec 18 (UNI) Leading player in tyre cord business and refrigerant gases, and a supplier of polyester films in domestic market, SRF Limited, plans to invest Rs 257 crore in two separate projects.

According to a Company release here today one of the projects would entail setting up of a second line of Biaxially Oriented Polyester (BOPET) Films with a capacity of 27,000 MT at an estimated cost of around Rs 165 crore.

The project had been taken up by SRF in view of the excellent growth opportunities in packaging films business which had been growing at around 25 per cent per annum for the last years, it said.

The project on implementation would increase SRF's annual capacity to 55,000 MT of polyester films.

The existing plants of SRF for its packaging films business were located in Indore and Kashipur.

The location for the new line was yet to be decided.

The second project will be setting up of a 15 MW wind energy project to produce 'green power' in Tamil Nadu at a total investment of Rs 92 crore.

The wind energy plant would meet the captive power requirements for SRF's three Tamil Nadu based units under its Technical Textiles Business (TTB).

This would be implemented as a Clean Development Mechanism (CDM) project.

The wind power project, which was expected to be commissioned by March 2008, aims to substitute a part of the grid power consumption of the three units of SRF's Technical Textiles Business in Tamil Nadu.

The generated power from the Wind Turbine Generators would be supplied to the units through wheeling via Tamil Nadu Electricity Board (TNEB) grid network, the release added.

UNI