Uflex to set up Rs1500 crore aseptic packaging factory at Sanand1 min read . Updated: 06 Oct 2015, 10:05 PM IST
The new facility will mark the company's entry in aseptic packaging industry that is currently dominated by Tetra Pak
Ahmedabad: Uflex Ltd, a packaging company, said it plans to set up a new manufacturing facility at Sanand in Gujarat for a total investment of Rs1500 crore.
The new facility, the first phase of which will be up and running by 2017, will mark the company’s entry in aseptic packaging industry that is currently dominated by Tetra Pak, a Swedish multinational food packaging company.
Aseptic processing is the process by which a sterile (aseptic) product (typically food or pharmaceutical) is packaged in a sterile container in a way that maintains sterility. These packages are typically a mix of paper, polyethylene and aluminum, with a tight polyethylene layer inside.
The current market of liquid packaging business is about 8 billion packs and is dominated by Tetra Pak, said president and CEO (liquid packaging and new businesses) Ashwani K. Sharma.
“The liquid packaging business has tremendous potential not only in India but also globally. We see a growth of 20% in this segment in India," he said at a press conference in Ahmedabad.
This Sanand facility will be the company’s fourth factory in India after Noida, Jammu and Malanpur.
The 72-acre Sanand factory will generate direct employment for 2,000 people, and generate revenues worth Rs3,000 crore with an operating profit of about Rs800 crore once it is fully operational with an investment of Rs1500 crore.