Shrinath Flexipack’s new Middle East facility will involve in the production of stretch and cling films
The new facility will manufacture stretch and cling films. (Credit: PublicDomainPictures from Pixabay)
Indian plastic packaging material manufacturer Shrinath Flexipack has entered into a deal to construct its first facility in the Middle East.
The company has finalised an agreement to build its factory at Abu Dhabi-based industrial zone KIZAD in the UAE.
Shrinath Flexipack will invest AED55m ($15m) for the development of a new facility on a greenfield site.
In a statement, KIZAD’s commercial director Khalid Al Marzooqi said: “KIZAD’s multimodal connectivity including Abu Dhabi Ports’ flagship deep-water port, Khalifa Port, is a boon for companies such as Shrinath Flexipack who plan to export and import out of Abu Dhabi.”
The new facility will allow the Indian firm to better serve its local and regional clients, in addition to expanding its operations in African and European markets.
Shrinath Flexipack will install advanced European extrusion lines for the manufacturing of stretch and cling films.
The new facility will have a total production capacity of up to 30,000 metric tonnes per annum
Upon the commencement of operations, the new facility will hold a total production capacity of up to 30,000 metric tonnes per annum.
Shrinath Flexipack CEO Ashish Malani: “Having swift access to key raw materials from within the KIZAD Polymers Park and the ability to ship faster to market thanks to the world-class infrastructure available at KIZAD, is a major advantage to companies such as ours.”
Part of the Shree Group of Industries, Shrinath Flexipack is a supply chain, logistics and warehousing group that deals with flexible packaging, masterbatches, poly bags, stretch and speciality films, laminated woven sacks, and pharmaceutical products.
With over 1,200 employees, Shree Group of Industries is reported to have annual sales of up to $150m.
In March, active packaging solutions provider Aptar has opened its second facility in Chonburi, Thailand and a new manufacturing facility in Hyderabad, India.
Situated within the landscape of Hyderabad, the new facility mainly targets operational excellence and quality assurance, as well as support the company’s beauty and home segment in India.