14 August 2008
Vishal Gulati
Sify.com

The Indonesia-based S P Lohia-promoted Indo Rama SPL group, with business interest in diverse fields such as power, petrochemicals and spun yarn, has decided to set up a stretch fabric manufacturing unit in Himachal Pradesh, a senior official said Thursday.

Functionaries of the group, including its managing director Amit Lohia, met senior officials of the industries department here Wednesday to finalise the modalities for investing Rs 400 crore in the hill state.

Industries director Manoj Kumar told IANS that the group would establish a spandex manufacturing plant, a first of its kind in the country. India manufactures all textile fibres except spandex that is used for dress material, sportswear, lingerie, shoe soles and upholstery.

The Indo Rama SPL group is a global manufacturer of diversified industrial products with a focus on petrochemicals - polyolefin, polyester, spun yarns, textiles and medical gloves. It also has business interest in packaging, power, real estate and fertiliser. The company is the second largest polyester producer in the world with capacity of 2.2 million tonnes per annum. It also has a polyester yarns and fibres manufacturing unit in Nagpur.

Kumar said an Indo Rama team had inspected various sites in the Baddi industrial corridor, 110 kilometres from here. "The state government will hand over the land to the company once it selects the site," he said.

Lured by the special industrial package given to the hill state by the central government, the company is eyeing business prospects in the textile industry in the northern states.