India’s packaging solutions major Uflex has announced huge investment plans amounting to the tune of Rs.1700 crores in the state of Uttar Pradesh. Mr. Ashok Chaturvedi, Chairman & MD, Uflex Ltd. made this announcement before the Uttar Pradesh Investors’ Summit 2018 that took place recently in Lucknow. Uflex is making this investment to enhance its manufacturing capacity and set up a solar project in Uttar Pradesh.
“We would like to further enhance our unique business strengths in the state of Uttar Pradesh,” said Mr. Chaturvedi.
“We have ambitious plans to substantially enhance our manufacturing capacity for flexible packaging in the next few years.”
In the project, Uflex will invest Rs. 500 crore and it is expected to generate employment for additional 500 people. The company also plans to set up a solar project on 300 acres with an approximate investment of Rs.1200 crore. 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, the UAE, Mexico, Poland, Egypt and the US.