Polyplex Corporation Limited has unveiled plans to establish a new BOPET (Biaxially Oriented Polyethylene Terephthalate) manufacturing film plant in India, aiming to bolster its production capacity by 52,400 metric tonnes per annum (MTPA). The company disclosed this development following its board meeting on January 9, 2025.

BOPET films are polyester films known for their strength, transparency, and excellent barrier properties. These films are widely used in applications such as flexible food packaging, electrical insulation, and industrial laminates, catering to various sectors’ growing demand.

The new plant, expected to commence operations in the first half of FY2027-28, will require an investment of approximately ₹558 crore ($65 million), excluding incremental working capital. Financing will be through a mix of debt and internal accruals.

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Currently, Polyplex operates at full capacity, producing 90,000 MTPA of BOPET and BOPP (Biaxially Oriented Polypropylene) films combined. The expansion is aimed at meeting market demand and strengthening its position in the specialty films segment.

Polyplex shares closed at ₹1,355.00 on January 9, down 3.58% or ₹50.35, reflecting cautious market sentiment despite the strategic announcement.