Ester Filmtech is planning to complete the first phase of the project by the third quarter of the calendar year 2022
Ester Filmtech, a wholly-owned subsidiary of Ester Industries, has unveiled plans to invest up to INR1350crores ($180m) to build an advanced packaging film manufacturing facility in the Indian state of Telangana.
The company will invest around INR500crores ($66.8m) to implement the first phase of the new polyester film manufacturing facility at Chandanvelly village in Shahbad mandal of Ranga Reddy district.
Ester Filmtech intends to complete the first phase of the project by the third quarter of the calendar year 2022.
The new project will allow to create around 800 new jobs
The new project is expected to create around 800 new jobs in the region. The end products from the proposed facility will be used in packaging material applications.
Ester Filmtech’s new packaging film manufacturing facility will help strengthen the value chain of the flexible packaging industry.
The company is planning to export between 30% and 40% of its production, helping to create Telangana’s footprint on the global flexible packaging map.
Ester Industries is one of the major producers of polyester films, engineering plastics and specialty polymers.
With advanced manufacturing facilities in khatima of Uttarakhand, Ester Industries has the capacity of 67,000 TPA of polyester resin, 57,000 TPA of polyester film, 30,000 TPA of specialty polymers and 16,500 TPA of engineering plastics.
At present, the company exports around about 30% of its production of polyester films with sales and distribution network in over 56 countries across the US. It produces specialty polymers primarily for the US and other overseas markets.
In July this year, Südpack announced a joint venture (JV) with India-based flexible packaging firm Kamakshi Flexiprints to expand its business operations in the Indian market.