Packaging firm plans ₹50 crore unit near Hyderabad
The Hindu
Mold-Tek foraying into injection blow moulding packaging, to cater to pharma, cosmetics sectors
Mold-Tek Packaging on Thursday outlined plans to establish a 50,000 sq ft plant for injection blow moulding packaging products near Hyderabad with an investment of ₹50 crore.
Initially, it plans to have a 10,000 sq ft facility by April 2022 with an investment of ₹10 crore. By 2024, it plans to invest an additional ₹40 crore to expand the facility. Eventually, it will have 30 injection blow moulding machines and IM machines for caps, chairman and managing director J.Laxman Rao said in a release.
With the facility, the company plans to begin catering to clients in the pharmaceuticals and cosmetics sectors. Noting that the plan is to invest ₹200 crore over the next three years on capacity expansion and foray into new market segments, he said Mold-Tek will be setting up a plant, to cater to the paint industry, in Uttar Pradesh with an investment of ₹20 crore by end of 2020.
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