Ester Industries announced on Friday that its wholly-owned subsidiary Ester Filmtech Ltd. has begun commercial production at its new polyester (BOPET) film plant in Telangana.

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The plant is spread over a land area of 50 acres. The manufacturing unit has a capacity of 48,000 MTPA. It has been set up at an approximate cost of Rs 650 crore, including margin money for working capital as well as GST accumulation.

According to the company, the plant is expected to generate revenues worth nearly Rs 600 crore on achieving optimal utilization.

The products manufactured at the new plant in Telangana will be used majorly in the flexible packaging industry, thereby contributing towards bolstering the value chain of the flexible packaging industry.

Ester Filmtech will also transform into a leading local and global BOPET film manufacturer, providing it with the requisite scale and capabilities to meet the growing BOPET market both in India and overseas with the new unit.

Ester Industries has also proposed to export 30-40 percent of its production.

Shares of Ester Industries ended little changed on Friday at Rs 126.50.