Piramal Glass (PGL) will make an investment to the tune of Rs 300 crore (USD 42 million) in its greenfield project at Jambusar in Bharuch district of Gujarat.
The company's expansion plan includes one new furnace with seven new manufacturing lines across approximately 3,00,000 sq ft plant, catering primarily to high-end specialty spirit, food and beverage and pharmaceutical markets primarily for exports to countries in Asia, Europe and the USA.
The company is already catering to the high-end specialty spirits from its plant in the USA. This top-of-the-line facility will be one-of-its-kind in Asia as there is a growing need for high-end water bottles, spirits bottles and food packaging.
The plant in Jambusar already houses three furnaces with 23 manufacturing lines and produces 540 tpd of glass. It currently employs 2,130 people and with the new expansion it will create an additional direct employment for around 700 people.
The company with a global sales of Rs 2,500 crore (USD 357 million) operates from India, Sri Lanka and the USA through its four manufacturing facilities and several decoration plants.