Ester Filmtech Limited has planned to set up an advanced polyester film manufacturing facility in the State of Telangana. The total investment of the entire project is approximately INR 1350 crores. The plant will come up in three phases at Chandanvelly in Shahbad mandal in Rangareddy district near Hyderabad.
Implementation of first phase with a capital outlay of INR 500 crores is scheduled to be completed by 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 contributing towards strengthening the value chain of flexible packaging industry.
Ester Filmtech Ltd Chairman Arvind Singhania said the company choose Telangana because of their 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 also has over 30 years of experience in manufacturing world-class products such as oriented films, engineering plastics, and specialty polymers. Ester Industries Ltd is currently trading at Rs68.40 up by Rs3.25 or 4.99% from its previous closing of Rs65.15 on the BSE.