Packaging solutions firm Uflex is planning to invest Rs 1,700 crore to enhance its manufacturing capacity and set up a solar project in Uttar Pradesh.
Ashok Chaturvedi ,Chairman & Managing Director Uflex Ltd speaking ahead of the Uttar Pradesh Investors Summit 2018 said “We have ambitious plans to substantially enhance our manufacturing capacity for flexible packaging in the next few years. For this … we endeavour to invest Rs 500 crore towards the project,” he also said that the company is planning to invest Rs 1,200 crore to set up a solar project.
“As a Group we lay a lot of emphasis on environmental sustainability in all our business processes therefore we propose to set up a solar project on 300 acres of land with an investment of approximately Rs 1,200 crore. Electricity thus produced will be used for captive consumption and the surplus shall be supplied to state or national grid,” he added.
Both the proposed projects together are expected to generate employment for 750 people at various levels, the company said.
Headquartered in Noida, Uflex has manufacturing facilities in India, UAE, Mexico, Poland, Egypt and the US.
With PTI Inputs