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Piramal To Invest Rs 300 Crore In New Plant

Vadodara: Piramal Glass Ltd (PGL) will invest Rs 300 crore to set up a plant at Jambusar near Bharuch.

The glass packaging solutions major which caters to high-end cosmetics, perfumery, food and beverage and pharmaceutical industry will set up one new furnace with seven new manufacturing on a 3 lakh sqft land.

“The plant will commence manufacturing from December this year. It will manufacture speciality bottles catering to Indian, Asian, European and the US markets,” said Vijay Shah, executive director, PGL.

Shah said that the company will invest another Rs 120 crore in its Kosamba plant and hire a total of 1,000 new employees during expansion in Jambusar as well as Kosamba.

PGL has a global sales of Rs 2,500 crore and it operates from India, Sri Lanka and the US. The firm’s current manufacturing capacity is 540 tonnes per day and with the new Jambusar plant, it will add another 250 tonnes per day to its capacity. The firm provides end-to-end glass packaging solutions in nearly 50 countries.-Times Of India  

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