Glass bottles maker Hindusthan National Glass & Industries (HNG) said it will invest Rs 2,500 crore in the next three years to expand its facilities, including setting up of a new plant.
“We will inv…
Glass bottles maker Hindusthan National Glass & Industries (HNG) said it will invest Rs 2,500 crore in the next three years to expand its facilities, including setting up of a new plant. “We will invest Rs 2,500 crore on various expansions which includes greenfield as well brownfield facilities, in the next three years,” HNG Vice Chairman and managing director Mukul Somany told reporters. On the acquisition front, the company said it is eyeing facilities in Eastern Europe and MENA (Middle East and North Africa) region. “We have earmarked Rs 500 crore for acquisitions. We are focusing mainly on Eastern Europe and MENA regions,” he said. The company, which has a capacity to produce 2,875 metric tons per day (mtpd) of glass, aims to increase it to about 6,000 mtpd in the next four and a half years. It will invest about Rs 650 crore in a new facility at Naidupeta in Andhra Pradesh and Rs 550 crore in expanding its existing plant at Nashik. “The remaining amount will be spent on upgrading the other remaining facilities,” Somany said. As part of the expansion plan, the firm today has announced deals worth Rs 250 crore with various international companies such as Switzerland-based Emhart Glass and Germany“s Horn Glass for various equipment. “These deals are part of NHG““s strategy to follow a very aggressive growth plan which would act as a catalyst in doubling its existing capacity,” Somany said. HNG“s focus on acquisition possibilities in the MENA region clearly underlines the importance of container and flat glass production there, states Derek Burston, marketing manager, Gulf Glass. This is why we have seen the Gulf Glass exhibition grow so much for this year. With just eight weeks to go, we are already a bigger show than ever before, and consolidating the position as the must attend glass show for the whole Middle East Region. The exhibition, which takes place at ADNEC, Abu Dhabi from 7-9 March, continues to book exhibitors daily, with Iris Inspection Machines the latest to confirm. Clearly, this year“s event will ensure the Middle East/MENA region has a focal point for glass activity now, and in the future, he adds. For more information on the event, visit www.glassinthegulf.com or email; Dominic Morris on dmorris@asianglass.com or Derek Burston on Des@gattacaltd.com.