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IFC sanctions $20 million loan for Alok Industries

Tuesday, 10 Jun 2003
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International Finance Corporation (IFC) has sanctioned a loan of $20 million (Rs.94 crore) to Alok Industries, a Mumbai based textile company. The loan is a part of $86.9 million (Rs.408 crore) project undertaken to enhance company’s position by incurring additional capital expenditure. The company would invest $49.8 million (Rs.234 crore) in setting up a dye-print-finish unit, expanding its weaving capacity, texturising capacity and knit processing capacity.

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