Packaging solutions firm Uflex is up on the toes to enhance its manufacturing capacity investing Rs 1,700 crore in the project. The company also aims to set up a solar project in Uttar Pradesh.
Ashok Chaturvedi, Chairman & Managing Director, Uflex, said ahead of the Uttar Pradesh Investors' Summit 2018 said, "We have ambitious plans to substantially enhance our manufacturing capacity for flexible packaging in the next few years. For this ... we endeavour to invest Rs 500 crore towards the project," Chaturvedi said the company also plans to invest Rs 1,200 crore to set up a solar project.
He added, "As a Group we lay a lot of emphasis on environmental sustainability in all our business processes, therefore, we proposed to set up a solar project on 300 acres of land with an investment of approximately Rs 1,200 crore. Thus, electricity produced will be used for captive consumption and the surplus shall be supplied to state or national grid.”
Uttar Pradesh Investors' Summit is scheduled to be held on February 21-22, 2018 in Lucknow
The project also has the employment generation capacity and could engage 750 people at various levels.
Uflex which has its headquarters in Noida, has also set up manufacturing facilities in India, the UAE, Mexico, Poland, Egypt and the US.