Machino Polymers Ltd. plans to build a 22 million-pound-per-year polypropylene compounding plant in Chennai, India, next year, thanks to growth in India's automobile industry.
This follows the company's expansion six months ago, when it doubled capacity at its Gurgaon, India, headquarters plant to 88 million pounds per year.
Machino expects to invest US$40 million in the Chennai plant, said marketing manager Tarun Saxena, in an interview at PlastIndia 2009, held Feb. 4-9 in New Delhi.
While acknowledging the challenges of the global economic crisis, Saxena said he still expects to see 11-12 percent growth in the Indian auto industry in 2009.
Most of Machino's production goes to that sector, according to Saxena.
Machino has a research and development center that works with major customers to design new applications for plastics. As an example, he cited the increased use of plastics in Mumbai-based Tata Motors' new Nano automobile, also referred to as The People's Car.