Press Trust of India / Mumbai Oct 08, 2009, 10:03 IST
Poland-based packaging major, Can-Pack, will pump in Rs 500-600 crore to ramp up its production capacity from 750-million cans to 2-billion cans annually over the next four years in India.
The company's plant at Aurangabad in Maharashtra is easily scalable to 1 billion cans and has the infrastructure ready for an additional billion cans if required, a top executive said.
"Based on market support, we plan to increase our production capacity by investing an additional Rs 500-600 crore in India. We want to tap the market as we are unique in the packaging segment," Can-Pack India President and Chief Executive Officer Harsh Jajoo said here.
Can-Pack's India plant at Walunj in Aurangabad received an investment of Rs 450 crore in May.
The company manufactures aluminium-based packaging material for the beer and beverages industry. Can-Pack's current market share is 33 per cent and it expects to up it to 50 per cent by next year.
Can-Pack Group is also setting up a new facility in Russia with a 1-billion cans production capacity in December.
"The packaging industry is directly linked to the GDP and we expect a good growth in the years to come" Jajoo said.
The Group also plans to double its Middle-East facility's production capacity from 1 billion to 2 billion cans in the next two years.
The company, which has a presence in 11 countries, is eyeing an $2-billion turnover in 2009-10.
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