India“s largest maker of glass bottles and vials, Hindustan National Glass Industries Ltd., plans to invest INR 25 billion (USD 551 million) to double its production capacity over the next three year…
India“s largest maker of glass bottles and vials, Hindustan National Glass Industries Ltd., plans to invest INR 25 billion (USD 551 million) to double its production capacity over the next three years. According to the company, a new manufacturing plant will be set up in Naidupeta in the southern state of Andhra Pradesh, while a furnace will be added to its facility at Nasik in western India. These two investments will help raise production capacity to about 6,000 metric tons a day. Hindustan is seeking to take advantage of the demand from the liquor and pharmaceutical industries as India grows at the highest rate among major economies after China. India“s pharmaceutical market is expected to grow at an annual rate of about 12% to USD 20 billion by 2015. Hindustan National“s new plant will start production by March 2012, while the company is also considering acquisitions in the Middle East, North Africa and Eastern Europe.