Sunday, July 14, 2024

Pakistan’s Largest Textile Exporter Interloop to Invest over $92 Million on Production, Energy Expansion

Interloop Limited, a major textile exporter in Pakistan, has announced ambitious plans for expansion and investment. They intend to invest approximately $92 million to boost their operations. Their goal is to achieve exports amounting to $670.8 million by the fiscal year 2025.

A significant part of their investment, about $58 million, will go towards increasing the capacity of their hosiery production by 25%. This expansion, known as Hosiery Plant 6, is expected to be completed by the first quarter of fiscal year 2026.

In addition to hosiery, Interloop plans to allocate $18.8 million for the installation of 20 new denim production lines by the fourth quarter of fiscal year 2026. This move will enhance their denim manufacturing capacity to produce up to 18 million garments annually.

Furthermore, the company aims to expand its yarn dyeing capacity with a $13.2 million investment. They also plan to increase their solar power generation capacity by adding 4 megawatts (MW) at a cost of $2.1 million. This investment will bring their total solar generation capacity to 16.6 MW by the third quarter of fiscal year 2025.

Interloop’s expansion plans underscore their commitment to growth and innovation in the textile industry, contributing to Pakistan’s economic development and employment opportunities.

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