SRF Limited, a chemical based multi-business facility manufacturing industrial and specialty intermediates, decided to build a second Bi-axially Oriented Polyethylene Terephthalate (BOPET) film line and a Resin plant in Thailand with an investment of approximately US$ 60 million.
This new plant with production capacity of about 40,000 metric tonnes per annum will be installed at the plant’s existing location in Rayong, Thailand by SRF Industries (Thailand) Limited, a subsidiary of SRF Limited and is expected to be completed in about two years.
A best-in-class 10.6m wide Dornier make line, the widest and latest technology machine in the world, will be installed in the new facility. Further, significant cost saving is expected with the installation of direct film casting that will help in increased competitiveness and lowering of the overall carbon footprint of the plant.
Ashish Bharat Ram, Managing Director, SRF, said, “While our long-term strategy of investing into our chemicals business remains intact, we believe that we have adequate capacities in place to meet our customers’ requirements on a short-to-medium term basis. Having said that, this investment into our Packaging Films Business makes good business sense as the global packaging films industry is witnessing improvement in capacity utilization and hence provides us an opportunity to tap into this expected growth in demand. Furthermore, with an existing strong customer base and a favorable tax and duty structure, Thailand presents itself as the best location for us to set up this new film line.”
SRF has twelve manufacturing plants in India, two in Thailand and one in South Africa and exports to more than 75 countries. The company has won the prestigious Deming Prize for two of its businesses.