Leading Indian rigid plastic packaging company to invest in two plants in India and one in Dubai

Moldtek Packaging Ltd., leading Indian rigid plastic packaging company, has finalized expansion plans, at an investment outlay of Rs 40 crore (approx US$9 mln). The plans include: * Two new manufacturing facilities in India by 2012: one in Pune with an initial capacity of 3,000 tpa to be expanded to 4,000 tpa. The second facility is planned in North India with a capacity to produce 2,000 tpa. To finance these projects, the company has no plans to go in for fresh borrowings. * One manufacturing plant in Dubai, United Arab Emirates by early 2013 to meet the demand from Middle Eastern markets. The company may tap the debt or equity route to raise funds. * Expansion of an existing unit in Daman to 19,000 tpa at a cost of Rs 15 crore by December 2011 end.
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