Indian multinational, Cosmo Films, will install a new production line for biaxially-oriented polyethylene terephthalate (BOPET) films by the third quarter of 2018-19.
The new line will be commissioned at the Waluj plant site in Aurangabad, Maharashtra, with a capacity of 36,000 metric tons per annum. The project for the new line will entail an investment of about 39 million USD (250 crore INR) and shall be funded through a mix of internal accruals and debt.
This plant already houses BOPP lines, extrusion coating lines, chemical coating lines, metallizers and a CPP line. The new production line will complement the existing BOPP capacity of 200,000 metric tons per annum and allow Cosmo Films to offer a more comprehensive speciality product basket to flexible packaging, labeling, lamination and industrial applications.
Pankaj Poddar, chief executive officer, Cosmo Films, said, ‘Speciality BOPET is one of the fastest growing substrates and we anticipate a strong demand for these films. This will enable us to do import substitution as well as take global market share.’