Ester Filmtech to set up ₹1,350 cr manufacturing plant in Telangana
1 min read 17 Aug 2020, 03:48 PM ISTThe project will create direct employment potential for about 800 people while the end products will find applications in packaging materialEster Industries is one of India's leading producers of polyester films, engineering plastics and speciality polymers
PremiumGURUGRAM : Ester Filmtech is planning to set up an advanced polyester film manufacturing facility in Telangana with a total investment of ₹1,350 crore.
The implementation of the first phase with a capital outlay of ₹500 crore is scheduled to be completed by the third quarter of the calendar year 2022, the company said on Monday.
The project will create direct employment potential for about 800 people. The end products will find applications in packaging material and help contribute towards strengthening the value chain of the flexible packaging industry.
Ester Filmtech said it plans to export 30 to 40 per cent of its production, which will help establish Telangana's footprint on the global flexible packaging map.
Chairman Arvind Singhania said the company chose Telangana as an investment destination due to its industry-friendly policies, growth-oriented approach and ease of doing business.
Ester Industries is one of India's leading producers of polyester films, engineering plastics and speciality polymers. It has manufacturing facilities at Khatima in Uttarakhand with a capacity of 67,000 tonnes per annum of polyester resin, 57,000 TPA of polyester film, 30,000 TPA of speciality polymers and 16,500 TPA of engineering plastics.
The company exports about 30 per cent of its production of polyester films with sales and distribution network in more than 56 countries.
This story has been published from a wire agency feed without modifications to the text.
