Grasim Industries is working on setting up an Rs 2,764 crore plant in Turkey for producing VSF, a raw material used for making apparels and home textiles.
Kumar Mangalam Birla said,"A 180,000 tonnes per annum greenfield plant in Turkey is in planning stage. A detailed study and obtaining the requisite approvals to get this project going, are underway. As a country, Turkey offers enormous potential, given its pre-eminence as a major textile hub. Currently our VSF manufacturing capacity is 7.5 lakh tonnes per annum. Our ambition is to raise it to 1.1 million tonnes by 2015. We expect to commission our plant in Turkey by early 2015. This capacity will cater primarily to the textile industries in Turkey.”
The process will continue over the next five years to set up the facility along with a captive power plant and Sulphuric Acid plant. It would come up in two phases.
It also plans to export around 20 per cent of the VSF produced in Turkey to European Union and other nations.