Kolkata-based Dhunseri Group is setting up a unit for production of flexible packaging films at an estimated investment of ₹1,250 crore.
The project will be implemented by Dhunseri Poly Films Private, a wholly owned subsidiary of Dhunseri Ventures.
According to Chandra Kumar Dhanuka, Executive Chairman and Promoter, Dhunseri Group, the annual production in the first year of operation is expected to be 45,000 tonnes per annum (TPA) with a target of increasing it to 1,60,000 tonnes by 2026-27.
The plant will manufacture polyester films to cater to packaging materials used in food, cosmetics, personal care and pharmaceuticals.
The plant, which is spread over 38 acres, is coming up in the Panagarh Industrial Park of West Bengal Industrial Development Corporation (WBIDC).
Initial investment
The initial investment in the project would be ₹400 crore in Phase 1. The funding would be a mix of internal accruals and debt.
“The unit is expected to commence commercial operations by March 2023. The plant will initially provide employment opportunities for over 200 people directly,” Dhanuka said. The products will be sold in domestic and international markets. The company has set a target of 15 per cent export to Europe and African countries.
The factory comes-up at a time when the domestic BOPP and BOPET market is nearly 1.2 million tonnes per annum.
Demand is likely to grow at over 12 per cent per annum in coming years for BOPP and BOPET, respectively.
Dhanuka further added that the company expects a turnover of ₹1,500 crore from the flexible film business by 2026 and export of around ₹400 crore.
CM inaugurates plant
West Bengal Chief Minister Mamata Banerjee, who laid the foundation stone for the plant on Wednesday said, the State government plans a data centre policy and will enable faster clearances and approvals to investing companies.
The State is eyeing ₹20,000-crore investment in the data centre segment with 400 MW of capacities.
Also on the anvil is an ethanol production policy.