MUMBAI, INDIA — With experts predicting that plastic consumption in India will double to 20 million metric tons annually by 2020, machinery makers are gearing up to meet growing demand.
India's leading press maker, Ferromatik Milacron India Ltd., is preparing to boost capacity in Ahemdabad, even though it currently does not operate at full capacity.
“We will go-ahead with a big expansion beginning in 2015, doubling the plant capacity,” said President N. K. Balgi, in an interview with Plastics News at Plastivision 2013 at Mumbai.
The company makes about 1,200 injection and blow molding machines annually, and it already has the capacity to make about 1,800.
Balgi said the company is keeping an eye on national elections in India, but it is likely to go ahead with the project regardless of the outcome.
“We are sure India cannot go down from here, it would only go up — whatever government would come into power. The policies would be industry friendly pushing for growth,” he said.
Balgi said it was too early to give details on the cost of the investment, which will boost the plant's capacity to 3,000 units annually.
“India is a growing market and the plastic sector is growing positively and will continue to grow in the years to come. We were growing 14-15 percent before, and expanding to meet the future demand,” Balgi said.
The plant exported between 300-400 injection presses in 2013, and is hoping for 12-13 percent growth in 2014.
Currently injection press suppliers in India have capacity to make about 6,000 injection presses annually.