SIG to invest €60 million for Ahmedabad carton plant
1 min read . Updated: 28 Feb 2023, 08:56 PM IST
Premium- The plant will supply its growing filler base, which now serves all leading dairy and non-carbonated soft drink players
NEW DELHI : Switzerland-based leading packaging solutions provider SIG on Tuesday said it would invest 60 million Euro (approx ₹525.98 crore) in the next two years to set up its first aseptic carton plant at Ahmedabad.
“SIG will construct its first aseptic carton plant in India, the world’s largest milk market, and one of the largest juices-producing countries globally," the company said in a statement.
The plant will supply its growing filler base, which now serves all leading dairy and non-carbonated soft drink players.
“The investment will cover state-of-the art production capacity, for the printing and finishing of aseptic carton packs with high environmental standards. Construction will commence in Q1 2023, and the start of the commercial production is expected towards the end of 2024. Phase one of construction is expected to create around 300 jobs," it added.
SIG will invest approximately €60 million over the period 2023-2025, to reach production capacity of up to 4 billion packs per annum. Subsequent investments could increase capacity up to 10 billion packs per annum.
“Land and buildings will be financed through a long-term lease with an NPV of approximately €30 million," the statement added further.
Angela Lu, President & General Manager Asia-Pacific South at SIG, said: “India is fast becoming the world’s most populous country and has a very low per capita consumption of entry level packaged food and beverage goods. Since entering the market five years ago we have grown exponentially. We are looking forward to further expanding our presence and driving up our market share. An established local infrastructure, will allow us to fast-track innovations and build strong and long-lasting partnerships with our customers."
Vandana Tandan, Head of Markets for India and Bangladesh at SIG, said: “We are thrilled to announce that soon we will have locally produced Made in India aseptic carton packs. With this plant we will be able to further develop the range of products available to Indian consumers. Our long shelf-life packaging increases access to vital nutrition and avoids food waste through an array of sizes to suit all consumption occasions at affordable price points."
