India Arvind and Germany PD joint venture glass fiber plant
Recently, Arvind India has reached an agreement with Germany's PD Fiber Group on the production of technical textiles. The ratio of new joint venture stocks is 51:49. Arvind is a major shareholder. The joint venture will enter the wind power, shipbuilding, automobile, transportation, infrastructure and aerospace industries. The company plans to invest INR 800 million in this project over the next five years. The new factory will produce 30,000 tons of glass fiber each year. Biaxial, multi-axial and woven glass fabrics, as well as stitched and shredded glass fiber fabrics. In the initial stage, 30% of the total production will be used to meet domestic demand, and the rest will be used for export. However, due to Indian Aerospace, wind power and auto industry's increasing demand for products, the domestic consumption and export ratio will be Adjust accordingly.
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