Ester plans 1,350 crore new plant in Telangana
Industries Minister KT Rama Rao and Industries Secretary Jayesh Ranjan at the virtual announcement of new plant by Ester Filmtech Limited on Monday
Hyderabad: Ester Filmtech Limited, a subsidiary of Gurgaon-based Ester Industries Limited, on Monday announced its plans to set up an advanced polyester film manufacturing facility with an investment of Rs 1,350 crore in Ranga Reddy district.
To be set up in three phases and completed by the third quarter of calendar year 2022, the plant 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. The plant will come up at Chandanvelly village in Shahbad Mandal of Ranga Reddy district.
Arvind Singhania, Chairman, Ester Industries, said: "Ester Filmtech had chosen Telangana State due to its industry-friendly policies and growth-oriented approach of Chief Minister K Chandrashekhar Rao and Minister for Industries & IT KT 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." Industries Minister KT 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 listed company established in 1985, has 32 years of experience in the manufacturing of polyester films, specialty polymers, and engineering plastic compounds. It has manufacturing facility in Khatima district, Uttarakhand, with the capacity of 67,000 tonnes per annum (TPA) of polyester resin, 57,000 TPA of polyester film, 30,000 TPA of specialty polymers and 16,500 TPA of engineering plastics. The company currently exports about 30 per cent of its production of polyester films with sales and distribution network in more than 56 countries across the world. Specialty polymers are manufactured primarily for the US and other overseas markets.