Mohit Industries to Expand Yarn Capacity by 50%

India: Mohit Industries Limited, one of the largest manufacturers of texturized yarn and fabrics in India, has announced plans to expand the existing polyester draw texturized yarn manufacturing capacity in Gujarat by around 50%. Present texturized yarn production capacity of the company stands 21,000 MT. Post the completion of the expansion project, the overall production capacity of the company would reach 30,000 MT. The total cost of the project has been estimated to be around USD3.7 million. The company has already received a sanction amount of USD2.77 million for term. The construction for this expansion project would commence by the end of May, 2016 and the installation of machinery and equipment is expected to begin in June, 2016.

TechSci Research depicts that the expansion of texturized yarn production capacity would enable Mohit Industries Limited to cater to growing demand for textiles in India. Additionally, the expanding textile production facilities in India would drive the demand for textile chemicals in the country.

According to TechSci Research report “Global Textile Chemicals Market Forecast & Opportunities, 2020”, global textile chemicals market is projected to grow at a CAGR of over 3% during 2015-20. Growth in the market is anticipated on account of increasing per capita textile consumption coupled with rising demand for high quality textile products. Moreover, increasing industrialization, surging consumption of textile in engineered products, and rapidly rising awareness about the benefits of using technical textile in workplace, are anticipated to propel the global textile industry, thereby driving global textile chemicals market over the next five years.