Ester Filmtech is planning to set up an advanced polyester film manufacturing facility in Telangana with a total investment of Rs 1,350 crore.
The implementation of the first phase with a capital outlay of Rs 500 crore is scheduled to be completed by the third quarter of the calendar year 2022, the company said on Monday.
The project will create direct employment potential for about 800 people. The end products will find applications in packaging material and help contribute towards strengthening the value chain of the flexible packaging industry.
Ester Filmtech said it 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 Arvind Singha 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 one of India's leading producers of polyester films, engineering plastics and speciality polymers. It 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.
The company exports about 30 per cent of its production of polyester films with sales and distribution network in more than 56 countries.
( With inputs from ANI )