Can-Pack to invest Rs 600 cr over 4yrs in India

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.