HSIL to invest Rs 320 cr for setting up glass making facility, expanding plastic plant capacity

Glass packaging producer HSIL on Wednesday said it will invest Rs 320 crore to set up a new speciality glass manufacturing facility in Telangana and raise production capacity of its plastic business facility.

Glass packaging producer HSIL on Wednesday said it will invest Rs 320 crore to set up a new speciality glass manufacturing facility in Telangana and raise production capacity of its plastic business facility. HSIL would invest Rs 220 crores in AGI Glaspac to manufacture specialty glass and the greenfield (new) facility will be operational by the end of September 2022.

Besides, it will invest Rs 100 crore in their plastic pipes and fittings solution business to increase the production capacity at the Sangareddy, Telangana, plant. HSIL Vice-Chairman and Managing Director Sandip Somany said, "The investment of Rs 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." HSIL's new glass manufacturing 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.

It will cater to industries such as pharmaceuticals including vials, perfumery, cosmetics, and high-end liquor. "I am excited that we are making a foray into the production of speciality glass, as it further strengthens our footprint in the glass packaging segment," said Somany.

He added that this segment is set to gain momentum from increasing marketing strategies and advertisements implemented by high-end perfumery, liquor, and cosmetic companies. Besides, the rising trend of online shopping would propel the growth across the country, Somany said.