The facility would have an annual capacity to produce 80,000 tonnes of VSF, which is a human-made bio-degradable fibre with characteristics like cotton.
The facility is expected to start commercial production by March, 2013, and would increase Grasim's total capacity by about 25 per cent.
Most of the requisite permissions for the plant have been received.
The company would continue to invest in VSF and other businesses as further opportunities unfold, it said without divulging any detail. It today announced demerger of its cement business into another group firm, Samruddhi as part of a restructuring plan .
The Hindu Business Line
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