Ester Filmtech Limited announces packaging film manufacturing plant at Chandanvelly, Shahbad Mandal, Telangana

Ester Filmtech Limited (wholly - owned subsidiary of Ester Industries 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 in three phases. 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. The Company proposes to export 30-40% of its production, which will help to establish Telangana's footprint on global flexible packaging map.

Mr. Arvind Singhania, Chairman stated that Ester Filmtech Limited has chosen Telangana state due to industry friendly policies and growth oriented approach of the visionary Hon'ble CM Sri K. Chandra Sekhar Rao & Hon'ble Minister Sri 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 TSI-pass, T-IDEA etc.

Shares of ESTER INDUSTRIES LTD. was last trading in BSE at Rs.65.15 as compared to the previous close of Rs. 65.2. The total number of shares traded during the day was 35906 in over 324 trades.

The stock hit an intraday high of Rs. 66.95 and intraday low of 63.55. The net turnover during the day was Rs. 2355751.

Source : Equity Bulls

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