Klockner to invest Rs 83 cr for packaging plant
German packaging solutions provider Klockner Pentaplast (KP) on Friday said it will set up a pharmaceutical films manufacturing facility in Aurangabad, Maharashtra, at an outlay of Rs 83.25 crore as it plans to make India a hub for its pharma pack...
By PTI |
NEW DELHI: German packaging solutions provider Klockner Pentaplast (KP) on Friday said it will set up a pharmaceutical films manufacturing facility in Aurangabad, Maharashtra, at an outlay of Rs 83.25 crore as it plans to make India a hub for its pharma packaging research in Asia.
The greenfield facility would have a capacity of 15,000 tonnes per annum and is expected to be operational by the first quarter of calendar year 2008. Presently, pharmaceutical packaging business in Asia stands at 4-5 billion dollars.
"India is a key market for the company in Asia with major pharmaceutical companies here being our customers. We would invest 20 million dollars in a new pharmaceutical film making facility here which would cater to both domestic and export market," company's President and COO Joachim Kreuzburg told reporters here.
He said the company would make India a hub for pharmaceutical packaging solutions in Asia and anticipates revenues of 30 million dollars in the first year of operations.
The company has been present in India since January 2006 and had closed the previous fiscal with revenues of 10 million dollars.
"The initial capacity of 15,000 tonnes per annum would be further ramped up in the second phase of expansion. Nearly 60 per cent of our produce out of Aurangabad would be used in the domestic market while the rest 40 per cent would be exported to other parts of Asia," KP India Managing Director Alok Marwaha said.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
