SIG, a packaging solutions provider, will invest approx. 100 million Euro (Rs 878.8 crore) to set up its first plant in India. The Ahmedabad-based plant is likely to begin commercial production by the end of 2024.

On 27 September, 2023, SIG laid the foundation stone of its first aseptic carton plant in India, and it is investing 60 million Euro (approx Rs 525.98 crore) on capex as machinery. In addition, the company would invest nearly 40 million euros (Rs 351.36 crore) on the lease agreement for land and building in the first phase.

The company will invest in a phased manner throughout 2023-2025, and expects to reach a production capacity of over four billion packs per annum. The plant will cater to growing dairy and non-carbonated soft drink filler base in the country.

Later, SIG plans to increase the investment capacity to about 10 billion packs annually. In the first phase, the company would use imported materials to manufacture its aseptic cartons, whereas in the second phase, it would source the raw materials locally.