Financial Daily from THE HINDU group of publications
Saturday, Nov 06, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 06, 2004 |
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Corporate
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New Projects Plus Paper to set up facility in HP Our Bureau
Mumbai , Nov. 5 PAPER cups major Plus Paper Foodpac Ltd (PPFL) has plans to set up its second manufacturing facility at Baddi in Himachal Pradesh. The company's existing plant at Navi Mumbai in Maharashtra has an annual installed capacity of 378 million cups and 120 million lids. The new plant initially will have an annual capacity of 150 million paper cups 75 million lids and will tentatively cost over Rs 2.5 crore. PPFL plans to fund the expansion project primarily through internal accruals. The combined capacity of PPFL once its new plant is commissioned in the next couple of weeks time will be over 525 million paper cups and 200 lids. "There has been a strong demand for food service disposables with our existing clients such as Coke Georgia hiking volumes by 40 per cent. The disposables market has also witnessed an evident shift from plastic cups to paper cups, which has fuelled further demand," Mr Nikhil Rungta, Managing Director, PPFL, said The new plant is looking at the recent spurt in malls and call centres in the North to fuel demand. Besides this, the company is a leading supplier to Coke, Pepsi, McDonalds, Indian Railways, Airport Authority of India, KFC, Haldiram, Nirulas, Hindustan Lever and Nestle. It has also planning to set up a Rs. 17-crore facility in Wales, UK.
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