Pegas Nonwovens to invest in production plant in SA

Pegas confirmed its continued interest in the purchase of a land parcel for the construction of a new production plant in South Africa at a press conference held in Cape Town.

"Pegas is very interested in realising its investment in the Republic of South Africa. Therefore, we greatly appreciate the support that we are receiving from the local authorities and which we sincerely hope will lead to an acceleration of the land purchase process. The final decision regarding the construction of the plant and the ordering of a new production line continues to be subject to the finalisation of negotiations with customers," said František Rezác CEO of Pegas Nonwovens s.r.o. and member of the Pegas Nonwovens SA board of directors.

"In the first phase of the project, the planned investment would amount to approximately €30-35 million. The production line should have an annual production capacity of 10 thousand tonnes and it is expected to be put into operation at the end of 2018," added Rezác. (KD)

Fibre2Fashion News Desk – India