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Lenzing Plans Rayon Fiber Venture in India

1:44 PM MDT | April 25, 2007 | Ian Young

Lenzing says it will build a rayon fiber plant in India, in cooperation with Modi Group (New Delhi). Lenzing chairman, Thomas Fahnemann, and Modi Group chairman, Satish Modi, signed an agreement last week in Vienna for the project. Shares in the planned venture were not disclosed, but Lenzing says it will hold a majority of the venture. Tying up the deal: Modi (l.) and Fahnemann reach agreement on investment. The rayon plant will have an initial capacity of 80,000 m.t./year, and produce textile fibers and nonwovens. The estimated cost of the project is $200...

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