It is expected that the implementation of the first phase with an investment of Rs 500 crore (US$ 70.93 million) is scheduled to be completed by the third quarter of the calendar year 2022, the company said.
This project will generate direct employment for about 800 people. The end products will be used as packaging material and will help in strengthening the value chain of the flexible packaging industry.
The company also 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 Mr 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 among the leading producers of polyester films, engineering plastics and speciality polymers in India. The company 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.
It exports about 30 per cent of its production of polyester films with sales and distribution network in more than 56 countries.
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