Indo-German joint ventureSchott Tubing India, which manufactures glasses and tubes for drug packaging,is investing 20 million euros (around Rs 180 crore) at its Jambusar facility in Gujarat to add capacity by 50 per cent.
The German parent Schott is a global pioneer in manufacturing pharmaceutical glass and packaging and it entered the domestic market two decades ago.
The company Friday announced a new glass tank facility at its Gujarat plant at an investment of around Rs 180 crore.
Georg Sparschuh, managing director, Schott Glass Indiasaid the new facility will help it increase capacity by 50 per cent.
Our investment in the new tankwill create 70 additional jobs, bringing the total count to 425.
The German technology groupis further growing its production capacity through this new tank facilitywith a total investment of over 20 million euros, acompany statement said Friday.
The expansion is in response to the increasing demand for high-quality pharmaceutical packaging material in the global market.
Construction work on the new tank facility has already begun and is expected to be completedover the next 18 months and production from the new tank is scheduled for January 2020.
The new facility will helpfulfil the growing demand for premium borosilicate glass tubing like fiolax clear, which is used for high quality pharmaceutical packaging, especially vials and ampoules both in the domestic as well as export markets.
Commenting on the role of the Gujarat plant,Patrick Markschlaeger, executive vice-president, tubing business unit at Schott said the rapid growth of the the Indian pharma market requires a strong growth in high-end packaging segment which demands a high-end pharmaceutical tubing as well.
In addition to meeting domestic demand, Schott Tubing will also serve the growing Asian markets, Markschlaeger said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)