Packaging materials and solution company Uflex Ltd plans to set up a new greenfield plant in Karnataka with an investment of Rs 850 crore. The Noida-headquartered firm has also announced brownfield investment of $15 million to add capacity at its step-down subsidiary, Flex Middle East FZE, Dubai.
The new plant with a capacity to produce packaging films of 63,000 tons per annum (TPA), would help Uflex to meet additional demand. The greenfield plant is expected to be completed by March 2023.
The UAE plant that currently houses a BOPET line with capacity of 22,000 TPA will have an additional capacity of 18,000 TPA once the CPP line is commissioned.Â
The investment on the UAE-based subsidiary will “broad base the products mix, better customers” reach, strengthen the market network and maximise the profitability,” it said. Uflex would add the proposed capacity by September 2022.
Uflex has packaging facilities at multiple locations in India with an installed capacity of around 1,35,000 TPA and has packaging film manufacturing facilities in India, UAE, Mexico, Egypt, Poland, Russia, and USA with a cumulative capacity of 3,81,000 TPA.