Leading Flexible packaging company Uflex Ltd
will invest Rs 1,500 crore for setting up their new plant at Sanand near
Ahmedabad. The plant will be operational by 2017. In the first phase, company
will invest Rs 580 crore.
The setting up of the new plant is part of
companies expansion plans to foray into the liquid packaging segment, the
company has acquired 72 acres of land in the Sanand industrial area to set up
the 'Aseptic Packaging Plant' to manufacture packaging material for liquid
products, such as milk, juices and energy drinks.
The project is proposed to be commissioned and
fully operational by April 2017 and will employ around 250 people in the first
phase. Later on, we intend to add some more facilities here in phase wise
manner with a total investment of Rs 1,500 crore, said R K Jain, group
president (Corp F&A). This will be company's fourth plant in India after
Noida, Jammu and Malanpur.
"On completion of all the phases, the Sanand
plant will provide employment to approximately 3,000 people," said Ashwani
K Sharma, president and CEO (liquid packaging and new businesses), Uflex. 90%
of the output from this factory will cater to the domestic demand.
In future, Uflex also plans to set up facilities
to manufacture waterproof cement bags and tubes at Sanand. According to Sharma,
liquid packaging business has a huge potential. "At present, the Indian
market stands at 8 billion packs made out of this packaging material per year.
This would double in next 4 to 5 years," said Sharma.
source: TimesofIndia
image courtesy: business-standard