Mumbai, Apr 4 Uflex, plans to invest Rs 380—crore to set up a polyester films plant in the US with an annual capacity of 30,000 metric tonnes and is eyeing Rs 4,500—crore revenue this fiscal, a top company official said.
The company operates plants in India, Egypt, Dubai and Mexico and the US plant will be Uflex’s sixth manufacturing facility. Uflex had clocked an Rs 3,500—crore revenue in FY 11.
“Our US facility will have a manufacturing capacity of 30,000 MTPA and will start production by December 2011,” said Mr R K Jain, Uflex Group’s President (Finance and Accounts).
The flexible packaging firm is also setting up another plant in Wrzesnia in Poland at an investment of around Rs 360—crore, which is expected to be operationalised in June 2012.
“With the operation of the two facilities, we expect a Rs 4,500—crore revenue by end—this fiscal,” Mr Jain added.