German packaging solutions provider Klockner Pentaplast (KP) is planning to set up a pharmaceutical films manufacturing facility in Aurangabad, Maharashtra with an investment of of Rs 83.25 crore, and is also planning to make India a hub for its pharma packaging research in Asia.The greenfield facility would have a capacity of 15,000 tonne per annum, and is expected to be operational by the first quarter of calendar year 2008. "India is a key market for the company in Asia with major pharmaceutical companies here being our customers. We would invest $20 million in a new pharmaceutical film making facility here, which would cater to both the domestic and the export market," Joachim Kreuzburg, president and COO, Klockner Pentaplast said.He added that the company would make India a hub for pharmaceutical packaging solutions in Asia, and anticipates revenues of $30 million in the first year of operations.The company has been present in India since January 2006, and had closed the previous fiscal with a revenue of $10 million."The initial capacity of 15,000 tonne per annum would be further ramped up in the second phase of expansion. Nearly 60% of our produce out of Aurangabad would be used in the domestic market," KP India managing director Alok Marwaha said.
