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Max Speciality Films to invest up to Rs 500 mn in new CPP line

Published: May 17, 2021

By TIOLCORPLAWS News Service

NEW DELHI, MAY 17, 2021: MAX Speciality Films (MSFL), a subsidiary of Max Ventures and Industries (MaxVIL), will invest up to Rs. 50 crore in a new Cast Polypropylene (CPP) line with a capacity of 7.2 kilo tonne per annum (KTPA).

The CPP line expansion will be funded entirely through internal accruals. Work on this capital expenditure will commence in the second quarter (Q2) of FY22 and is expected to be commercialised by Q2 of FY23.

The robust demand for the CPP films has led to market growth and enabled MSFL to increase capacity. There is also a sustainability factor as these films are easier to recycle.

From the onset of FY21, MSFL has witnessed robust demand for its packaging films due to increasing preference of customers for packaged products as hygiene and safety has taken over priority during the COVID-19 pandemic.

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