Dhunseri Group to Establish 1,250 Crore Poly Film Factory in Panagarh
The Kolkata-based Dhunseri Group is setting up a manufacturing unit for the production of flexible packaging films for an estimated investment of 1,250 crore.
The project will be implemented by Dhunseri Poly Films Private Ltd, a wholly owned subsidiary of Dhunseri Ventures Ltd.
According to Chandra Kumar Dhanuka, executive chairman and promoter of the Dhunseri Group, the expected annual production is 45,000 tonnes per year (TPA) in the first year of operation with a production target of 160,000 tonnes by 2026- 2027.
The plant will manufacture polyester films for packaging materials used in food, cosmetics, personal care and pharmaceuticals.
The plant, which spans 38 acres, is coming into the Panagarh Industrial Park of the West Bengal Industrial Development Corporation (WBIDC). The initial investment on the project would be 400 crore in phase 1. The financing would be a mixture of internal accrued liabilities and debt.
The potential investment includes the development, construction and operation of production plants and potentially other downstream products.
“The unit is expected to begin commercial operations by March 2023. The factory will initially provide employment opportunities to more than 200 people directly. When completed, this project will generate around 500+ direct jobs and over 1,000 indirect jobs, ”Dhanuka said.
The products will be sold in national and international markets. The company has set a target of 15% export to Europe and African countries.
Market size, potential
The plant was created at a time when the domestic market for BOPP and BOPET reached nearly 1.2 million tonnes per year. Demand is expected to increase by more than 12% per year in the coming years for BOPP and BOPET, respectively.
“The first unit will be a downstream unit of the existing Haldia plant in Dhunseri, where it manufactures PET (polyethylene terephthalate) resins. It would be a non-liquid discharge plant with proposed ETP and STP. The second and third units will produce BOPP films with a nominal capacity of 134,000 tonnes and an estimated production of 115,000 tonnes. The raw material for the BOPP line will come from the IOCL Paradip (Odisha) factory, ”he said.
Dhanuka further added that the company expects revenue of 1,500 crore by 2026 and exports of around ₹ 400 crore.
Table tennis academy
The Dhunseri Group also establishes one of the largest table tennis academies in New Town, Kolkata. The 45,000 square foot academy will have 27 tables under one roof. It will also have residential accommodation, a multipurpose activity room, a cafeteria, among other facilities. The Dhunseri group has teamed up with table tennis players Poulomi Ghatak and Soumyadip Roy for the same.