Interloop Limited to Invest $92 Million for Expansion

Interloop Limited (ILP), a prominent textile exporter based in Pakistan, has revealed plans for a substantial investment of around $92 million to fuel its expansion strategies. The company's primary objective is to elevate its export value to $670.8 million by the fiscal year 2025. This significant development was recently communicated through a notification to the Pakistan Stock Exchange (PSX).

The Board of Directors of ILP convened on June 25, 2024, and ratified the Annual Budget for the Fiscal Year 2024-25. Noteworthy decisions included setting an export sales target of $670.80 million for FY25. Moreover, the board finalized plans to augment hosiery capacity by 25% by introducing Hosiery Plant 6, incorporating 1,584 new knitting machines by Q1'FY26.

Additionally, the Board approved a capital outlay of $18.8 million by Q4'FY26 to implement 20 new denim production lines, gradually scaling up the total garment capacity to approximately 18 million pieces per year within a two-year timeframe.

ILP also secured approval to enhance its in-house spun yarn dyeing capacity by 20 metric tons to 28 metric tons, with a total capital outlay of $13.2 million. The new dyeing plant is anticipated to commence operations by Q1'FY26.

In a bid to align with environmental sustainability, ILP has given the green light for an additional 4MW solar generation capacity, entailing an investment of $2.1 million. This initiative aims to curtail greenhouse gas emissions and elevate the company's green energy generation capacity to 16.6MW by Q3'FY25.

Headquartered in Faisalabad, Interloop Limited specializes in the production of socks and leggings, catering to esteemed retailers like Nike, Adidas, H&M, Puma, Levi’s, Reebok, and Target. The company manages five hosiery manufacturing divisions spread across Pakistan, Bangladesh, and Sri Lanka.

Interloop Limited's ambitious investment plans underscore its commitment to growth and innovation in the textile industry. By expanding its production capacities and embracing sustainable practices, ILP is poised to strengthen its position as a leading exporter while contributing positively to the environment.