The management of Polyplex (Thailand) Public Company Limited (PTL), which is a subsidiary of Polyplex Corporation Limited (PCL) having 51% stake, has approved a proposal to set up a new BOPET thin film line with an installed capacity of 5O KTPA which will come up adjacent to the existing line in Decatur, Alabama, United States of America (USA) at an estimated cost of USD 102.80 million (including Working Capital).

 

Included in the scope of the project is debottlenecking of the existing PET resin plant, for creating a matching captive capacity, which will result in increase in capacity from 58 KTPA to 86 KTPA.

 

The project is proposed to be financed by available surplus cash balances and internal accruals and the tentative time frame for commissioning is about 24 months.

 

This project would be implemented by 'Polyplex (USA) LLC', USA which is a wholly owned subsidiary of PTL.

 

PCL' management board has also approved the project in their meeting held yesterday.