Cogent Glass' Rs 200-crore plant comes up in Telangana

Cogent Glass today inaugurated its Rs 200-crore new manufacturing plant in Telangana's Mahabubnagar district which will significantly ramp up its production capacity.
The facility, built with an investment of more than Rs 200 crore, has production capacity of one million pieces per day for Type I moulded vials and half million pieces for tubular containers, the pharmaceutical glass manufacturing firm said in a release issued here today.
Chief Minister K Chandrashekar Rao inaugurated the plant in the presence of Consul Generals of US and France, senior government functionaries and CEOs of leading pharmaceutical companies, it said.
The plant is expected to provide direct jobs to 450 people and indirect employment to another 1,000. It is strategically located on the Hyderabad-Bangalore highway, near the source of rich minerals and in the pharma hub of south India, it added.

Currently, Telangana produces about 1.5 million glass vials for the pharmaceutical industry. The pharmaceutical packaging industry in India is estimated to be worth Rs 1,100 crore and is growing at a rate of 17 per cent.
The Hyderabad-headquartered glass company was acquired last year by Oaktree Capital Management, a Los Angeles-based investment firm managing over USD 80 billion in assets and several investments in the packaging sector.