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HSIL announces Rs 320 crore investment in Telangana
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SME Times News Bureau | 29 Oct, 2020
HSIL, India's second-largest glass packaging producer, announced an
investment of Rs 220 crore in AGI Glaspac to set up a new facility
manufacture specialty glass.
The Greenfield facility in Bhongir,
Telangana will be operational by the end of September 2022. The facility
will have a manufacturing capacity of 150 tonnes per day and will
include one new furnace with five manufacturing lines spread across 15
acres.
In a context of strong global demand for high-end
specialty glass bottles, AGI Glaspac will also focus on exports to the
USA, Australia, and a few European countries.
The high-quality
specialty glass products will cater to industries such as
pharmaceuticals including vials, perfumery, cosmetics, and high-end
liquor. The state-of-the-art facility will be equipped with cutting-edge
technology rooted in the principles of digital manufacturing, and will
also create job opportunities in the region.
AGI Glaspac already
has two manufacturing plants in India, one in Sanathnagar and the other
one in Bhongir, Telangana with an overall capacity of manufacturing
1,600 tonnes container glass per day.
"I am very excited that we
are foraying into the production of specialty glass, as it further
strengthens our footprint in the glass packaging segment. This segment
is set to gain momentum from the increasing marketing strategies and
advertisements implemented by high-end perfumery, liquor, and cosmetics
companies besides, the rising trend of online shopping which would
propel the growth across the country," said Sandip Somany, Vice Chairman
and Managing Director, HSIL.
AGI Glaspac is India's
second-largest and the most profitable glass packaging manufacturer. The
company develops a comprehensive and highly appreciated range of
standard designs catering to marquee clients in alcoholic and
non-alcoholic beverages, fast-moving consumer goods, retail,
pharmaceuticals, and edible oil industries.
Meanwhile, HSIL, also
the makers of the iconic brand Hindware, announced an investment of Rs
100 crore in their plastic pipes and fittings solution business to
increase the production capacity at the Sangareddy, Telangana plant.
Through the investment, the company aims to augment the production from
current 30,000 tonnes to 48,000 tonnes by September 30, 2022.
Despite
the ongoing pandemic, there has been a significant increase in the
demand of CPVC and UPVC pipes and fittings. The strategic investment
will help the company cater to the requirements from the customer base,
optimize the lead-time, and consistently meet the future demands from
various markets, the company said.
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