Hyderabad, Aug 17 (SocialNews.XYZ) Ester Filmtech Ltd, a wholly-owned subsidiary of Ester Industries Ltd, on Monday announced setting up of a packaging film manufacturing plant in Telangana with an investment of Rs 1,350 crore.
The plant will come up in three phases at Chandanvelly in Shahbad mandal in Rangareddy district near Hyderabad.
Implementation of the first phase is scheduled to be completed by the third quarter of calendar year 2022. This project will create direct employment potential for about 800 people.
The end products of the proposed unit will find its applications in the packaging material and will help to contribute towards strengthening the value chain of the flexible packaging industry.
The company proposes to export 30-40 per cent of its production, which will help to establish Telangana's footprint on the global flexible packaging map.
Ester Filmtech Ltd Chairman Arvind Singhania said the company choose Telangana "due to industry-friendly policies and growth-oriented approach of visionary Chief Minister K. Chandrashekhar Rao and Minister for Industries and IT K.T. Rama Rao. As compared to other states, Telangana is far ahead in respect of investment-friendly climate, ease of doing business, industry-friendly policies like TS-iPASS, T-IDEA, etc".
Rama Rao welcomed Ester Industries to Telangana and assured all possible support from the state government in getting the plant commissioned at the earliest.
Ester Industries, a BSE and NSE listed company, is a leading manufacturer of polyester films, specialty polymers, and engineering plastic compounds. It has its corporate headquarters in Gurugram, while its state-of-the-art manufacturing facility is located at Khatima in Uttarakhand's Udham Singh Nagar district.
The company has over 30 years of experience in manufacturing world-class products such as oriented films, engineering plastics, and specialty polymers.
Source: IANS
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