Cosmo Films to set up Rs 140 cr production line in Aurangabad

Aurangabad Apr 2 (PTI) Packaging material producer Cosmo Films will set up a CPP film production line in Aurangabad at an investment of Rs 140 crore, a statement said on Saturday.

The company will invest Rs 140 crore funded through internal accruals and debts, the company said.

The new production line with annual rate capacity of 25,000 mt will add direct employment to 50 people in Aurangabad and a lot of indirect employment. The company currently has manpower of 1,100 and of them 600 are in Aurangabad.

The company has purchased land for this expansion in Waluj.

Pankaj Poddar, Global CEO, Cosmo Films Ltd said, "Worldwide significant focus is being given on recyclability & sustainability of packaging films. Monolayer structure of CPP and biaxially oriented film with good mechanical and physical properties (BOPP) is the most preferred structure to address sustainability requirements."

With current CPP capacity running close to 100 per cent utilization, the company planned capacity expansion with the world's largest width line and lowest cost of production'.