Indian plastic packaging converter Shrinath Flexipack to produce 30,000 metric tonnes of plastics per annum on green field site at KIZAD’s Polymers Park
Shrinath Flexipac, India’s leading manufacturer of plastic packaging materials, has finalised an agreement to build its first factory in the Middle East at Kizad, the UAE’s first industrial free zone.
The AED55 million investment will allow the Hyderabad plastics player to set up on a greenfield site in Kizad’s Polymers Park.
The new facility will serve Shrinath Flexipack’s clients in the Middle East, while also enabling the firm to expand into African and European markets.
KIizad Commercial Director Khalid Al Marzooqi said: “A packaging company like Shrinath Flexipack setting up in the Kizad Polymers Park, shows the true value of our cluster-based approach which enables companies within the zone to benefit from each other’s products and services in close proximity, leading to lower cost of production, faster production cycles, and quicker shipment to market.
“Kizad’s multimodal connectivity including Abu Dhabi Ports’ flagship deep-water port, Khalifa Port, is a boon for companies such as Shrinath Flexipack who plan to export and import out of Abu Dhabi.
“The benefits and ease of setting up, combined with our ability to offer the region’s lowest utility rates, ensures Kizad is the ideal location for a business to grow and succeed.”
Shrinath Flexipack is part of the Shree Group of Industries, a leading Indian supply chain, logistics and warehousing group with operations in flexible packaging, masterbatches, poly bags, stretch and speciality films, laminated woven sacks, and pharmaceutical products. Its new Abu Dhabi site will pro- duce up to 30,000 metric tonnes of plastic goods per annum.
CEO Ashish Malani said: “We anticipate great success in Abu Dhabi, and we appreciate Kizad’s support in helping us set up. “Our presence in Kizad emphasises our determination to strengthen and expand our offering and ensure our business breaks into new markets.
“Having swift access to key raw materials from within Kizad and the ability to ship faster to market thanks to its world-class infra- structure is a major advantage to companies such as ours.” Once in operation, the new factory is expected to use ultra-modern European extrusion lines to produce stretch and cling films.
Serving as the largest producer of PE stretch and cling films in India, Shree Group of Industries today employs more than 1,200 workers and reports annual sales of up to $150 million. Shrinath Flexipack’s clients cover the entire gamut of pack- aging sectors including food, cosmetics, industrial goods, beverages, pharmaceuticals and consumer goods (non-food).
Established in 2006, Abu Dhabi Ports is a global trade enabler based in the UAE capital. It is the region’s premier facilitator of logistics, trans- port and trade, bridging Abu Dhabi with the world. Abu Dhabi Ports’ largest sub- sidiary is Khalifa Industrial Zone Abu Dhabi (Kizad), the integrated trade, logistics, and industrial hub and maritime gateway. Additional subsidiaries of Abu Dhabi Ports include: Abu Dhabi Marine Services, Maqta Gateway, Abu Dhabi Maritime Academy, Abu Dhabi Terminals, and Abu Dhabi Cruise Terminal.