The company's board had approved setting up of the woven polypropylene bags (WPP) manufacturing plant in Mexico at an investment of USD 50 million (nearly Rs 435 crore) to cater to North and South American pet food market, along with the recycling unit at Noida a an investment of Rs 317.11 crore last week.
Flexible packaging and solutions firm UFlex Ltd is investing over Rs 750 crore to set up a woven polypropylene bags manufacturing plant in Mexico and a new recycling facility at Noida, to be operational in 2025-26, according to its Chairman and Managing Director Ashok Chaturvedi.
"With an estimated investment of USD 50 million, this plant will be the first WPP packaging plant in Mexico catering to the lucrative North and South American pet food (bags) market, estimated at approximately USD 90 billion USD in 2025 and expected to reach approximately USD 135 billion by 2030," Chaturvedi said.
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