Electric motors provide the speed required for web-handling applications. Motors are sold by power (HP or KW) rating. That is true, but misleading. The motor nameplate HP is achieved only at or above base speed and then only when it is fully loaded. It is rare to produce rated motor power in web handling other than in extruders or calenders.
Same for drives. Though they may be sold by HP or kW, they are built to handle a maximum current and voltage. Usually, most components other than transformers are rated for the highest voltage available in that class of drive. That is 600V (660V in Europe) for 240, 460, 600V equipment. The power components (contactors, shunts, current transformers, and power semiconductors have a maximum current rating.
The result is that with a higher voltage motor and drive, the installed cost should be lower. A smaller drive, motor, and power cables will be used for 600V than for 240V motor and drive.