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| Machino Polymers setting up plants in Chennai, Pune |
| BS Reporter / Mumbai/ Pune Jul 10, 2009, 00:50 IST |
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Polypropylene material supplier Machino Polymers Ltd is setting up a manufacturing unit each in Chennai and Pune to expand its annual capacity to 10,000 tonnes. The combined investment in both these projects would be over Rs 50 crore.
The company has signed an agreement with Abu Dhabi-based plastic mouldings maker Borouge to market its products produced from these plants.
Speaking to reporters, Machino Polymers executive director Arjun Jindal said, “We are planning to increase our annual manufacturing capacity from the present 4,000 tonne to 10,000 tonne over the next two years. We already have a plant in Gurgaon and two new plants are coming up in Chennai and Pune at an investment of Rs 50 crore.”
The company expects to get its plant in Chennai operational by December this year while the Pune unit would be ready by the second quarter of the next financial year.
“Our alliance with Borouge will facilitate the introduction of innovative automotive applications into the Indian market as well as new technology and cost-saving solutions originally developed by Borouge for European market,” Jindal added.
Borouge is a joint venture between European plastic solutions provider Borealis and Abu Dhabi National Oil Company. “The collaboration with Machino Polymers will help us penetrate into the ever growing Indian market. Our position in the European segment will help us extend a lot of advantages to the Indian OEMs,” added Pushp Raj Singhvi, Borouge regional manager, Indian sub-continent.
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