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German pharmaceutical glass major SCHOTT AG is eyeing to double its manufacturing facility in India in a year by infusing total Euro 47 million, which includes its existing investment of Euro 21 million.
The company on Thursday inaugurated its new glass tank facility in Jambusar, Gujarat - which was set up with an investment of Euro 21 million last year.
SCHOTT also eyes rapid growth prospects for high quality glass material driven by pharma industry, and has lined up additional investments of Euro 26 million for yet another tank facility in 2020, which will double its total capacity from existing 17,000 tonnes per annum to about 35,000 tonnes per annum by 2020.
“Each of the new production facilities with a combined investment of €47 million, will double the capacity of SCHOTT Glass India’s manufacturing plant, allowing the group to produce its highly specialised FIOLAX® tubing material for both domestic and export demands," stated Georg Sparschuh, Managing Director, SCHOTT Glass India Pvt Ltd.
SCHOTT looks at India and the South-East Asia as the promising market to unlock the next level of growth for its tubing business.
"In the last two-three years, there has been significant increase in growth in Asia and more specifically in India and China. In early 2018, SCHOTT decided to expand its only Asia capacity, because this is where the market is growing and developing," stated Dr. Patrick Markschlaeger, Executive Vice President, SCHOTT AG, Business Unit Tubing.
Export potential
SCHOTT bets big on India's pharmaceutical export potential. "More medicines are produced and packaged in India and sent to global markets. They need to be made with global market standards as well as to be packed in the global packaging standard material. And our products are globally certified," Sparschuh stated.
The company began the construction of its first new tubing facility last year on the occasion of completing two decades of operations in India.
"SCHOTT also takes cognizance of the Indian Health Ministry’s initiative to provide affordable and accessible healthcare to its citizens. In this regard, we wish to be part of such initiatives by contributing to the pharmaceutical value chains and by providing high-quality glass products for pharma packaging, ensuring highest global safety standards," stated Sparschuh.
On the occasion, Marja Einig - Deputy German Counsel stated, "SCHOTT is playing a pivotal role in giving a fillip to our efforts in strengthening the Indo-German partnership... With its expanded operations, it is catering to the needs of the Indian health industry and contributing to the Indian government’s initiatives such as Make in India and Pharma Vision 2020.”
SCHOTT’s India plant functions as a production hub for SCHOTT pharmaceutical tubing in Asia and produces the branded FIOLAX® pharmaceutical tubing.
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