Ester Industries Ltd., a listed company, will invest about ₹1,350 crore to set up an advanced polyester packaging film manufacturing facility in Telangana.
The Gurgaon-based firm is a manufacturer of polyester films, specialty polymers and engineering plastic compounds. It currently has a manufacturing facility in Khatima district of Uttarakhand.
The investments will be made in three phases. “Implementation of the first phase is scheduled to be completed by the third quarter of 2022. This project will create direct employment for about 800 people,” a top official of the Telangana government has said.
Welcoming the move, Telangana IT and Industries Minister KT Rama Rao assured the firm of all help from the government in rolling out its plans in the State.
The firm proposes to export 30-40 per cent of its production, which will help to establish Telangana’s footprint on the global flexible packaging map, according to Arvind Singhania, Chairman of the firm, said.
Source : Hindu