HYDERBAD, INDIA (Sept. 15, 1:30 p.m. ET) — Rigid plastic packaging company Moldtek Packaging Ltd. is setting up two plants in India and one in the United Arab Emirates, plus expanding an existing unit in Daman.
Chairman Laxman J. Rao said the company is planning a plant in the Pune/Satara area with an initial capacity of 3,000 metric tons per year, with plans to double capacity by 2015.
Currently, Moldtek has three units in its headquarters city of Hyderabad and one in Daman with a combined capacity of 15,000 metric tons per year.
Moldtek is investing around US$10 million in the expansion and new facility.
Moldtek also is planning a plant in northern India, a location has not been finalized.
Moldtek also exports plastic containers to neighboring countries and plans to set up a plant with decorative in-mold label technology.
“IML technology is popular in the West and we are targeting … products like cheese, ice creams, etc., in the West Asian market,” Rao said. That plant, which will be around Dubai, is scheduled to be operational by the end of 2012.