Grasim Industries, a subsidiary of Aditya Birla Group is planning to make an additional investment to the tune of Rs 6,400 crore to expand the capacities as its existing plants are unable to meet growing demand from the local customers.
The investment will be made in the speciality fiber business, which will increase its capacity by around 40 percent in the next two years.
The company has invested Rs 7,000 crore in the last 10 years and will pour similar amount in the next two years as demand is fast picking up.
The additional capacity will be commissioned at Vilayat plant in the state of Gujarat in two years.