HSIL announces Rs 320 crore investment in Telangana
HSIL, India’s second-largest glass packaging producer, announced an investment of Rs 220 crore in AGI Glaspac to set up a new facility manufacture specialty glass.
The Greenfield facility in Bhongir, Telangana will be operational by the end of September 2022. The facility will have a manufacturing capacity of 150 tonnes per day and will include one new furnace with five manufacturing lines spread across 15 acres.
In a context of strong global demand for high-end specialty glass bottles, AGI Glaspac will also focus on exports to the USA, Australia, and a few European countries.
The high-quality specialty glass products will cater to industries such as pharmaceuticals including vials, perfumery, cosmetics, and high-end liquor. The state-of-the-art facility will be equipped with cutting-edge technology rooted in the principles of digital manufacturing, and will also create job opportunities in the region.
AGI Glaspac already has two manufacturing plants in India, one in Sanathnagar and the other one in Bhongir, Telangana with an overall capacity of manufacturing 1,600 tonnes container glass per day.
“I am very excited that we are foraying into the production of specialty glass, as it further strengthens our footprint in the glass packaging segment. This segment is set to gain momentum from the increasing marketing strategies and advertisements implemented by high-end perfumery, liquor, and cosmetics companies besides, the rising trend of online shopping which would propel the growth across the country,” said Sandip Somany, Vice Chairman and Managing Director, HSIL.
AGI Glaspac is India’s second-largest and the most profitable glass packaging manufacturer. The company develops a comprehensive and highly appreciated range of standard designs catering to marquee clients in alcoholic and non-alcoholic beverages, fast-moving consumer goods, retail, pharmaceuticals, and edible oil industries.
Meanwhile, HSIL, also the makers of the iconic brand Hindware, announced an investment of Rs 100 crore in their plastic pipes and fittings solution business to increase the production capacity at the Sangareddy, Telangana plant. Through the investment, the company aims to augment the production from current 30,000 tonnes to 48,000 tonnes by September 30, 2022.
Despite the ongoing pandemic, there has been a significant increase in the demand of CPVC and UPVC pipes and fittings. The strategic investment will help the company cater to the requirements from the customer base, optimize the lead-time, and consistently meet the future demands from various markets, the company said.