Uflex to invest in new greenfield film plant
Packaging materials company Uflex, Ltd., will set up a new greenfield film plant in Karnataka, India. The Noida-based company has also announced brownfield investment of $15 million to add capacity at its step-down subsidiary, Flex Middle East FZE in Dubai, reports the Indian Financial Express.
The new plant's capacity to produce packaging films of 63,000 tonnes per year will help Uflex meet additional demand. The greenfield plant is expected to be completed by March 2023.
The new lines to be added in South India will have a cumulative production capacity of 63,000 TPA. The plant, which currently houses a BOPET line with capacity of 22,000 TPA, will have an additional capacity of 18,000 TPA once the CPP line is commissioned.
On its UAE-based subsidiary, the company said Flex Middle East FZE has an existing capacity to produce 22,000 TPA of packaging films and is adding 18,000 TPA. The investment in the UAE will “broad-base the product mix, better customer reach, strengthen the market network and maximize profitability," Uflex says. This capacity will be added by September 2022.