Cosmo Films announces BOPP expansion in India
Cosmo Films has announced expansion by setting up reportedly the world’s largest BOPP film production line at Aurangabad, India, with an annual rated capacity of 67,000 metric tons.
The BOPP line will require investment of about 350 crores INR (47.5 million USD) to be funded through internal accruals and debts and is expected to be commencing commercial production within FY 2024-25.
Backed by strong financial performance, the company has also declared first interim dividend of 25 INR (0.34 USD) per share for FY2021-22.
Commenting on the company’s performance, Pankaj Poddar, CEO, Cosmo Films, said: ‘With current capacity expected to produce primarily specialty films (more than 80 percent) in next two years and projected BOPP film demand growth in India, the company planned capacity expansion which will be world’s largest production line with an annual rated capacity of 67,000 metric ton with the lowest cost of production.
The company has also recently launched Zigly – India’s first tech-enabled integrated pet-care platform – through the launch of its website www.Zigly.com and the opening of its flagship experience center in New Delhi. Other growth plans including specialized BOPET line, focused towards growing specialty sales, expanding into Cosmo Specialty Chemicals are progressing well in line with the plan.’
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