Ester Industries Ltd has informed that its Board of Directors has approved capital expenditure of Rs 80 crores ($10.8 million) for capacity expansion of certain grades of Speciality Polymer business.
The company is planning a capacity addition of 6,000 metric ton per annum thereby taking the overall capacity to 12,000 metric ton per annum.
Presently, the capacity utilization is more than 80% and there is a need for expansion.
The proposed capacity will be added in the next 24 months. The investment of Rs 80 crores ($10.8 million) will be funded through a mix of internal accruals and debt.
Ester Industries Limited manufactures polyester films, specialty polymers and engineering plastic compounds. The company’s manufacturing facility is located at Khatima, Uttarakhand. The company has a global presence, supplying to a large customer base in 75 countries across Europe, Americas, Africa, the Indian sub-continent, Far East, Asia Pacific and the Middle East.