Latest News | Moldtek Packaging to Set Up Plants in TN, Haryana

Hyderabad, Nov 18 (PTI) Moldtek Packaging Limited on Friday said it is establishing a plant at Cheyyar in Tamil Nadu and another one at Panipat, Haryana to cater to Aditya Birla Group's requirements as well as strategically growing market demand of Food & FMCG products.

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A sum of Rs 30 crore will be invested in each plant, a press release from the company said.

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Moldtek has recently received the Letter of Award from Aditya Birla Group (Paints Division) to supply Packing Material from co-located facilities at Cheyyar and Panipat, it said.

The company is also setting up second manufacturing facility at Daman with an investment of Rs 20 crore to cater to the Western region. Land acquisition for

the plant has been completed.

MTPL is also diversifying their manufacturing activity into IBM (Injection Blow Moulding) containers segment which is having more than 10,000 crore market

demand annually, the firm said.

The IBM plant will commence production during FY 24. The company is planning to invest around Rs 100-125 crore on capex in the next two years, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)