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.