Cosmo Films has unveiled plans to install a new production line at its Waluj plant site in Aurangabad, located in the Indian state of Maharashtra.
Cosmo Films will invest up to Rs250crores ($37m) to build the new production line, which will be used to produce speciality polyester films, including biaxially-oriented polyethylene terephthalate (BOPET).
BOPET films feature high tensile strength, chemical and dimensional stability, transparency, reflectivity, gas and aroma barrier properties, said the company.
Expected to be operational by the third quarter of 2018- 19, the new line will have the capacity to produce 36,000 MT per annum.
The plant already features BOPP lines, extrusion coating lines, chemical coating lines, metallizers, in addition to CPP line.
Cosmo’s new production line is said to complement the existing BOPP capacity of 200,000 MT per annum
It will help the company to produce more comprehensive speciality product solutions, which can be used in flexible packaging, labeling, lamination and industrial applications.
Cosmo Films CEO Pankaj Poddar 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.”
Founding in 1981, Cosmo Films also manufactures thermal laminating films. It has plant cum distribution centres in the US, Korean and Japan and global channel partners in around 50 countries.