Mumbai: Jindal Polyester Ltd, a part of the Rs 1,100-crore BC Jindal group and a leading producer of polyester films in India, is setting up a new polyester film line together with a polycondensation plant, at its existing factory in Nasik, with an investment of Rs 150 crore.
The new line, with a capacity of 29,000mt per annum, would be one of the largest polyester film lines in the world. The Rs 150-crore project will be financed by an equal mix of debt and equity, where the equity would be generated through internal accruals.
With this expansion, the total capacity of Jindal Polyester will increase to 65,000 million tonnes, making it the fifth largest producer of polyester film in the world and the largest in India.
JPL''s plans to expand are largely a result of the growing demand for BOPET internationally and in the domestic markets. While 50 per cent of its production would be earmarked for the international market, the balance would be for the domestic market.
S K Mittal, managing director, Jindal Polyester Ltd said: "With the international demand for BOPET films growing at over 4 per cent per annum and the domestic demand expected to touch 95,000 tonnes per annum by 2003, Jindal Polyester is poised to lead the segment, both in the domestic as well as international markets. Our state-of-the art technology will enable us to lower the cost of production significantly, thereby offering a major price advantage to our clients."