Interloop to invest $92m in expansions

KARACHI: Interloop Limited (ILP), one of the leading textile exporters, has approved expansion plans with an investment of $92.1 million in four categories: hosiery, denim, yarn dyeing and renewable energy plant.

The company secretary in a notice to the PSX on Wednesday disclosed that the board of directors of the company approved the annual budget while the export sales target for FY25 was set at $670.80 million.

The board approved enhancing capacity in hosiery by 25 per cent with the installation and commissioning of Hosiery Plant 6 by Q1’FY26, adding 1,584 additional knitting machines with an investment of $58 million.

An investment of $18.8 million by Q4’FY26 was approved for the commissioning of an additional 20 lines in denim. The expansion will be phased over two years, increasing capacity to a total of around 18 million garments per year.

Due to the increasing demand for dyed yarn, the board approved the expansion of the ILP’s in-house spun yarn dyeing capacity by 20 metric tonnes to 28 metric tonnes with an investment of $13.2 million. The plant is expected to be commissioned by Q1’FY26.

Besides, to cut GHG emissions, an additional 4MW capacity to solar generation was approved with the cost of $2.1 million that would be commissioned by Q3’FY2. It will increase the company’s green energy generation capacity to 16.6MW.