AGI glaspac invests in German technology at its Telangana plant
Rs 55-crore investment will lead to strengthening of glass packing products manufacturing out of India
Hyderabad: AGI glaspac, a manufacturer of integrated container glass, announced its partnership with Germany-based Horn Glass Industries AG. Both have joined hands to build a new furnace for AGI Speciality Glass Division for the company’s Bhongir plant in Telangana.
The technology will cost Rs 55 crores. It is a part of the recent investment raised by AGI glaspac from its parent company HSIL, amounting to Rs 220 crores.
The facility will comprise end-fired furnaces with six forehearths for production. With the setup of this new furnace, the company’s Bhongir plant will be able to produce 154 tonnes of premium flint and other different colours every day.
This speciality glass will cater to industries such as carbonated water, sparkling wine, pharmaceuticals, including vials and in cosmetics, such as beauty products, perfumery, nail polish and others.
Rajesh Khosla, president & CEO of AGI glaspac, said, “Our investment in German technology is aimed to strengthen our units to make products more efficiently out of India for global markets. We thrive by the Make-in-India concept, and it is important that we do not miss out on the great opportunities or technologies readily available – these technologies are to watch out for or invest in, so that the products manufactured in India can compete efficiently.”
Stephan Meindl, president & CEO, Horn Glass Industries AG, said, “We are confident that with our technological support, AGI glaspac will be able to thrive by its Make-in-India vision of manufacturing world-class level specialty glass very effectively.”
The entire construction and commissioning will be managed by AGI glaspac and Horn Glass Industries AG, Germany jointly.
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