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Our Bureau

New Delhi , Aug. 2

Hindustan Tin Works Ltd has announced a joint venture with the UK-based Rexcam Plc's Indian subsidiary Rexam Beverage Can India Pvt Ltd to manufacture two-piece beverage cans from a greenfield plant in Mumbai. The plant, entailing an investment of about Rs 88 crore, is in advanced stages and expected to be operational by the end of 2006.

According to the deal, Rexam Beverage will hold a majority stake of 51 per cent in the new entity while Hindustan Tin will hold the rest. The joint venture will operate through a new entity, HTW Beverage Can (India) Pvt Ltd, which will eventually become Rexam HTW Beverage Can (India) Pvt Ltd. The new facility will have an initial capacity of nearly 450 million cans per year.

Besides meeting the local demand, the unitwill also be looking at catering to the demands of the neighbouring SAARC countries.

More Stories on : Alliances & Joint Ventures | Metals

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