Uflex to set up a new greenfield plant in Karnataka
22 February 2021
Uflex, a packaging materials and solution company, plans to set up a new greenfield plant in the state of Karnataka with an investment of Rs 850 crore.
The company has also announced a brownfield investment of USD 15M (around Rs 109.17 crore) to add capacity at its step-down subsidiary, Flex Middle East FZE, Dubai.
The company’s Board has approved the proposed expansion of packaging films in South India. The new plant with a capacity to produce packaging films of 63,000 tpa will help the company to meet additional demand.
The greenfield plant is expected to be completed by March 2023.
The UAE plant that currently houses a BOPET line with a capacity of 22,000 tpa will have an additional capacity of 18,000 tpa once the CPP line is commissioned. The project will broad-base the product mix, better customers’ reach, strengthen the market network and maximise profitability.
The company will add the proposed capacity by September 2022.