Polyplex Corporation has announced that the company will invest up to Rs 370 million in hydro power projects, to be funded out of its internal accruals / surpluses of its subsidiary (ies).

This includes an initial investment of Rs 150 million in an identified project.

The company`s products are available under the Sarafil brand in the range of 9 to 50 microns including plain, corona and chemically-treated transparent films; high adhesion and barrier films, ultra clear films, hazy films, matte films, co-extruded films, and metallized films.

These find applications in flexible packaging, metallizing, stamping foil, thermal lamination, electrical and cable insulation, labels and holograms, and other industrial products.

Shares of the company closed down Rs 0.5, or 0.43%, at Rs 114. The total volume of shares traded at the BSE was 3,351 (Wednesday).