AGI Greenpac Invests INR 230 Cr in Telangana’s Glass Production Unit - News

AGI Greenpac Ltd will invest INR 230 crore to modernize furnaces, introduce new technologies, and improve production in Telangana. Rajesh Khosla, CEO, AGI Greenpac, announced at the company’s specialty glass plant in Bhongir, near Hyderabad, that this investment aims to meet the growing demand for high-quality glass packaging solutions in domestic and export markets.

The specialty glass plant, which became fully operational in January 2023, with a daily production capacity of 154 tonnes serves industries like cosmetics, perfumery, candle jars, and premium alcoholic beverages. A significant part of the investment will go to commercial glass facilities and the specialty glass unit, including updating a 250-tonne furnace at the commercial glass plant in Motinagar, Hyderabad.

Additionally, the company’s packaging division also makes PET bottles and security caps, operating seven plants in Telangana, Uttarakhand, and Karnataka. The company expects to earn over INR 2,400 crore in FY24. Khosla mentioned that glass packaging solutions, including exports, account for more than 90 percent of the company’s revenue and are expected to increase as customer demand grows. On that note, the company is now looking for export opportunities in the Middle East and Europe after setting up a strategic export channel in the US.