Pakistan’s textile giant to invest $300mn in next five years

Interloop Limited, one of the largest hosiery manufacturers in the world will invest $300 million in the next five years, as the company eyes to double its sales under its ‘Vision 2025.’

“We are pleased to inform you that after an extensive exercise Interloop Limited has formulated its Vision 2025,” announced the company in a statement on Thursday.

The company said that under the vision it will endeavor to double its sales by FY2025-26 when compared to the sales in the FY2020 -21. Moreover, in order to achieve its vision and double its sales the company will add a knitwear apparel plant, an ActiveWear plant, a Denim fabric mill, sixth hosiery plant and enhance its spinning and yarn dyeing capacity during the next five years with an estimated capital outlay of $300 million.

Set up in 1992 in Faisalabad with 10 knitting machines. Today after series of expansions, it is a complete vertically integrated company with state-of-the-art spinning, yarn dyeing, knitting and finishing facilities; it is also Pakistan’s one of the largest exporting firms and one of the largest listed companies on PSX by in terms of market capitalization.

During 1HFY21, Interloop Limited recorded sales of Rs 26.26 billion and profit after tax Rs 2.904bn.