Cogent Glass inaugurated its new manufacturing plant in Mahabubnagar district of Telangana.
It has been built with a total investment of more than Rs 200 crore. The plant has a production capacity of one million pieces per day for Type-I moulded vials and half million pieces for tubular containers.
The plant will provide direct employment to 450 people and indirect jobs to another 1,000 people.
The Hyderabad-headquartered glass company was acquired last year by Oaktree Capital Management, a Los Angeles-based investment firm.
At present, Telangana produces about 1.5 million glass vials for the pharmaceutical industry. In India, the pharmaceutical packaging industry is estimated to be worth Rs 1,100 crore and is growing at a rate of 17 per cent.
More Project Info:
Glass Products (Mahaboob Nagar) Project