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HSIL has announced an investment of ₹220 crore in AGI Glaspac to manufacture ‘Specialty Glass’ at a new greenfield facility in Bhongir, Telangana and another investment of ₹100 crore in their plastic pipes and fittings solution business at the Sangareddy plant in Telangana.
The new Glaspac plant and the pipes plant will be operational by the end of September 2022.
The Glaspac facility will have a manufacturing capacity of 150 tonnes per day and will include one new furnace with five manufacturing lines spread across 15 acres. Due to strong global demand for high-end specialty glass bottles, AGI Glaspac will also focus on exports to the USA, Australia, and a few European countries. The high-quality specialty glass products will cater to industries such as pharmaceuticals including vials, perfumery, cosmetics, and high-end liquor.
AGI Glaspac has two manufacturing plants in India, one in Sanathnagar and the other one in Bhongir, both in Telangana with an overall capacity of 1600 tonnes container glass per day.
Sandip Somany, Vice Chairman and Managing Director, HSIL Limited, in a statement said, “We are foraying into the production of specialty glass, as it further strengthens our footprint in the glass packaging segment. This segment is set to gain momentum from the
increasing marketing strategies and advertisements implemented by high-end perfumery, liquor, and cosmetics companies besides, the rising trend of online shopping which would propel the growth across the country.”
Pipes fittings plant
HSIL, the maker of the iconic brand Hindware, announced an
investment of ₹100 crore in their plastic pipes and fittings solution business to increase the production capacity at the Sangareddy, Telangana plant.
The Company aims to augment the production from current 30,000 tonnes to 48,000 tonnes by September 2022. Despite the ongoing pandemic, there has been a significant increase in the demand of CPVC and UPVC pipes and fittings.
Sandip Somany said, “The investment of ₹100 crore is a strategic decision to make our production facility more robust and manage the demands in the new normal. The expansion is a testament to our commitment to the customers and our vision for the future.”
The company has an agreement with the $18 billion Japanese
conglomerate Sekisui Chemical Co. Ltd. for the supply of NSF-certified CPVC compound, Durastream, to provide quality piping solutions to cater to varied market requirements.
EOM
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