Outcome of the Board Meeting held on 5th March, 2020:
1. Approval for incorporation of a new 100% Subsidiary (Wholly owned Subsidiary) of Ester Industries Limited.
2. Expansion plan of setting up a new BOPET Film Line in India under the above-stated Wholly owned Subsidiary of the Company.
Information required pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9th September, 2015 is as stated under –
|
Existing Capacity |
60000 MTPA |
|
Existing capacity utilization |
100% |
|
Proposed capacity addition |
48000 MTPA in Wholly owned Subsidiary |
|
Period within which the proposed capacity is to be added |
18-24 Months |
|
Investment required |
Rs. 500 Crores |
|
Mode of financing |
Mix of internal accruals and debt |
|
Rationale |
· Full utilisation of existing BOPET Film capacity · Growing demand for BOPET Film in Domestic and Overseas market |