Kesoram Industries suspends work at rayon factory

B K Birla group company Kesoram Industries Ltd on Tuesday suspended work at its rayon factory in West Bengal's Hooghly district due to fall in demand. The company management blamed the slump in demand due to Covid-19 led disruptions for the suspension of work till further notice. "We had to issue a suspension of work as there is no demand for the product due to Covid-19 situation. If we continue our loss will triple from current losses," a senior company official told PTI. The company employs 2,500 people in the loss making rayon plant. The finished products are used in textile and textile decoratives and the pandemic has led to sharp slump in demand for textiles.