An advanced polyester film manufacturing facility with an investment of ₹ 1,350 crore will be established near Hyderabad by Ester Filmtech, a wholly owned subsidiary of Ester Industries.
The end products, from the plant planned at Chandanvelly, Shabad mandal, will find applications in packaging material and contribute to strengthening of the value chain of flexible packaging industry. Ester proposes to export 30-40% of the production, thus helping establish Telangana’s footprint on global flexible packaging map, the company said.
The proposed ₹1,350 crore investment is to be made in three phases. The first phase, with a capital outlay of ₹500 crore, is scheduled to be completed by September, 2022. The project is likely to create around 800 direct employment opportunities.
Ester made the announcement following a virtual meeting Chairman Arvind Singhania and Telangana Industries and IT Minister K.T. Rama Rao had on Monday. Industries Secretary Jayesh Ranjan was present. The decision of Ester Filmtech to chose Telangana was influenced by industry friendly policies and growth oriented approach of Chief Minister K.Chandrasekhar Rao and Mr. Rama Rao. Compared to other States, Telangana is far ahead in respect of investment friendly climate, ease of doing business and industry friendly policies like TS-iPASS and T-IDEA, Mr.Singhania said.
A release from the Minister’s office welcomed Ester Industries to Telangana, and Mr. Rama Rao assured all possible support from the State government in getting the plant commissioned at the earliest.
One of the leading producers of polyester films, engineering plastics and speciality polymers in the country, Ester Industries has manufacturing facilities in Khatima, Uttarakhand with a capacity of 67,000 TPA of polyester resin, 57,000 TPA polyester film and 30,000 TPA speciality polymers and 16,500 TPA engineering plastics. The company currently exports about 30% of its production of polyester films. Speciality Polymers are manufactured primarily for the US and other overseas markets.
In recent weeks, this is the third major investment proposal announced on the outskirts of Hyderabad. In July, Welspun Group formally opened its ₹1,100 crore flooring plant in Chandanvelly and said an additional ₹500 crore investment is on cards. At the inauguration Mr.Rao, who also laid foundation for Welspun’s ₹400 crore Advanced Textiles facility, said Shabad mandal may play host to the largest industrial park of Telangana, a 3,600 acres facility, if the farmers and locals extend support. More recently, Medha Group began work on a ₹1,000 crore rail coach factory in Medha’s facility, in Kondakal village, Shankarpally in neighbouring Rangareddy district.
