Chandigarh: Integrated textile major Nahar Group has decided to set up a new plant for manufacturing Bi-axially Oriented Polypropylene film (BOPP) at Mandideep in Madhya Pradesh with an estimated investment of Rs 200 crore.
"We have decided to invest Rs 200 crore for setting up a new plant in Bhopal which will make raw material for the packaging industry," Nahar Investments and Holdings Director Dinesh Oswal told PTI.
The company has also proposed to carry out this film project under company's new name of Nahar Poly Films Limited, he said.
The board of directors of the company has decided in its board meeting to change the name of Nahar Investments and Holdings Limited to Nahar Poly Films Limited.
To fund this project, the company would raise money through a combination of internal accruals and loans from banks, he added.
The total manufacturing capacity of the plant has been fixed at 30,000 tons per annum, he said.
Hoping to commission the manufacturing facility within one year, the company expects to achieve a turnover of Rs 300-400 crore within next two years.
"We feel that we will be able to have a turnover of Rs 300-400 crore from this new project," he said.
"We have decided to invest Rs 200 crore for setting up a new plant in Bhopal which will make raw material for the packaging industry," Nahar Investments and Holdings Director Dinesh Oswal told PTI.
The company has also proposed to carry out this film project under company's new name of Nahar Poly Films Limited, he said.
The board of directors of the company has decided in its board meeting to change the name of Nahar Investments and Holdings Limited to Nahar Poly Films Limited.
To fund this project, the company would raise money through a combination of internal accruals and loans from banks, he added.
The total manufacturing capacity of the plant has been fixed at 30,000 tons per annum, he said.
Hoping to commission the manufacturing facility within one year, the company expects to achieve a turnover of Rs 300-400 crore within next two years.
"We feel that we will be able to have a turnover of Rs 300-400 crore from this new project," he said.
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