Cosmo Films to invest Rs 140 crore in new CPP film production line

Aurangabad, April 1:

Cosmo Films Limited plans to expand its capacity by adding a Cast Polypropylene (CPP) film production line at Aurangabad with an investment of around Rs 140 crores.

The specialty films manufacturer said that the CPP film production line will have an annual rated capacity of 25,000 MT. Cosmo Films Limited is expected to begin commercial production at the new line in 2 years. The company will fund the expansion project via internal accruals and debts.

Company chief executive officer Pankaj Poddar said, “Worldwide significant focus is being given on recyclability and sustainability of packaging films. Monolayer structure of CPP and BOPP is the most preferred structure to address sustainability requirements. With current CPP capacity running close to 100 percent utilization, the company planned capacity expansion with the world’s largest width line and lowest cost of production.

Other growth plans include specialized BOPET line, BOPP line, focus towards growing specialty sales, expansion with Cosmo Specialty Chemicals and Zigly are progressing well in line with the plan. In a regulatory filing, the company said it plans to set up a new line of specialty polyester films, Biaxially-Oriented Polyethylene Terephthalate (BOPET) by the second quarter of 2022-23.