Polyplex: Thailand arm to set up BOPP project in Indonesia

Polyplex Corporation Limited’s subsidiary Polyplex (Thailand) Public Company Limited (PTL) has decided to set up BOPP film line project with a capacity of 60,000 TPA in Indonesia at an estimated cost of US$48 million.

Polyplex has 51 per cent stake in its subsidiary PTL. The said project would be implemented by PT Polyplex Films Indonesia which is a wholly-owned subsidiary of PTL.

Till date, PTL had total PET film resin capacity of 80,500 MT. It included base films categories like PET Thin – 42,000 MT, PET Thick – 28,800 MT, CPP – 10,000 MT, Blown PP – 8,845 MT. Also, under the coated/value added films, it has 21,700 MT capacity of metallised films and 985 MT capacity of coated films.

Polyplex group is among the world’s largest manufacturers of thin PET Film. It has six manufacturing facilities in 5 countries, multiple warehouses and liaison offices around the world.

On Wednesday, the stock of Polyplex opened at Rs. 528 per share. The stock closed at Rs. 514.50 per share, and made intra-day high and low of Rs 532.25 and Rs 514 respectively.