Kanpur-headquartered Ganesh Polytex (GPL) is looking to achieve the target of Rs 1,000 crore of revenue in the next five years on the back of growing demand for polyester fibre, both in the global as well as the domestic market.
The company recycles PET bottle waste and turns it into Recycled Poyester Staple Fibre (RPSF). It is also setting up a greenfield yarn spinning unit at Bilaspur in Uttar Pradesh with the capacity of 25,000 spindles. This project will cost the company around Rs 125 crore and will be financed through a mix of equity, debt and internal accruals.
GPL, which has a total installed capacity of 57,600 tonnes per annum (TPA), is also planning to increase it by another 14,000 TPA to take it to about 72,000 TPA by FY 12-13 and is further planning to venture into plastic waste recycling business.
Meanwhile, the company's revenue, which is growing at 30% per year at present, is estimated at Rs 265 crore in 2010-11.
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