Taking Advantage of Liberalisation

Taking Advantage of Liberalisation Hansavivek NIRLON SYNTHETIC FIBRES AND CHEMICALS intends to set up in UP a large petro-chemical project for manufacture of one lakh tonnes each of propylene and butadiene and 60,000 tonnes of polypropylene per annum. This is a capital intensive project requiring a huge outlay of funds. The company has applied for an industrial licence and the matter is being discussed with the government. Meanwhile, the company has signed an agreement with Karnataka State Industrial Investment Corporation for setting up a plant in the joint sector for the manufacture of nylon-6 yarn with an installed capacity of 6,000 tonnes per annum. The Central government has recently granted permission to increase capacity to 12,000 tonnes per annum. The facility of broad-banding of synthetic yarn will also be applicable to the project, which will be implemented by a new company. The government has approved Nirlon's proposal to manufacture annually 100 tonnes of high performance carbon fibre and issued a letter of intent and also permitted it to obtain foreign technical and engineering knowhow.