Polyester giant, Indo Rama Synthetics (India) Limited is all set to double its production with an additional investment of Rs 850 crore, by early next year.
From the present 800 tonnes per day, it would touch more than 1600 tpd, according to Chairman and Managing Director Omprakash Lohia.
On an annual basis, the capacity would increase from three lakh tonnes to six lakhs tonnes, Lohia told reporters at the factory site on Wednesday.
He said the company is in the final stage of starting a captive power plant to generate 30 mw to augment power supply and later sell to state electricity generation company.
Indo Rama, which produces partially staple yarn and polyster staple yarn (psf) at Butibori near Nagpur, had committed an investment of Rs.858 crore earlier, but the project was delayed due to non-availability of raw material, Lohia said.
Under the expansion plan, 400 tpd would be added by the end of September and another 400 tpd by December. The company was started here in 1992 with an initial investment of Rs.500 crore, he said.
The company is fully geared to meet the domestic demand and presently it has no plans to export. The capacity expansion would lead to more indirect employment, he added.