Hindusthan National Glass Industries (HNG) will invest up to INR 5000 crore over the next five years to set up new facilities and expand existing capacity.
Total production capacity in the last fiscal year was 9.4 lakh tonnes, and the company expects to reach 12 lakh tonnes in 2011-12.
President R L Khandelia confirmed: “We are looking to invest nearly INR 5000 crore to set up a greenfield facility and also to augment capacity in the existing plants.”
The new facility, which will be located in Rajasthan, Haryana or Madhya Pradesh, India, will cost approximately INR 2500 crore to set up. “We are looking for about 500 acres of land and are in talks with the governments in these three states and wherever we find the land we will set up the new facility,” said Mr Khandelia. The plant will have three manufacturing container glass units and two for float glass, he confirmed.