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Business Economy


HSIL to invest Rs 220 cr in AGI Glaspac to set up new greenfield 'speciality glass' manufacturing facility in Telangana

Hyderabad, Oct 28 (UNI) : HSIL, India’s second-largest glass packaging producer, on Wednesday announced an investment of ₹220 crores in AGI Glaspac to set up a new greenfield 'speciality glass' manufacturing facility in Telangana.
The Greenfield facility spread across 15 acres based out of Bhongir will be operational by the end of September 2022 and will have a manufacturing capacity of 150 tonnes per day, the company said in a release here.
Strong global demand for high-end specialty glass bottles, AGI Glaspac will also focus on exports to the USA, Australia, and a few European countries.
The high-quality specialty glass products will cater to industries such as pharmaceuticals including vials, perfumery, cosmetics, and high-end liquor.
The state-of-the-art facility will be equipped with cutting-edge technology rooted in the principles of digital manufacturing, and will also create job opportunities in the region, the release said.
AGI Glaspac already has two manufacturing plants in Telangana in India --one in Sanathnagar and another one in Bhongir, with an overall capacity of manufacturing 1600 tonnes container glass per day.
HSIL Limited Vice-chairman and Managing Director Mr. Sandip Somany, said,” I am very excited that we are foraying into the production of specialty glass, as it further strengthens our footprint in the glass packaging segment. This segment is set to gain momentum from the increasing marketing strategies and advertisements implemented by high-end perfumery, liquor, and cosmetics companies besides, the rising trend of online shopping which would propel the growth across the country.”
AGI Glaspac is India’s second-largest and the most profitable glass packaging manufacturer.
In FY 2019-20, AGI Glaspac introduced Greendrop Glassware, a B2C brand to manufacture transparent, coloured, and printed glass for water, milk, juice bottles, and food storage jars in various sizes to meet varied customer requirements. The bottles under the brand are free from BPA, toxins, chemicals, and lead, making them the safest and most durable choice for consumers.
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