 "Vital Paper Products to invest Rs 60 crore on packaging products division")
The Singapore-based Vital Paper Products, which currently produces office and school stationery among other paper products at its existing units in Sri City, is planning to start manufacturing of packaging materials at an investment of Rs 60 crore.
"We will be ideal partners to the companies in and around Sri City, offering best quality corrugated packaging solutions at competitive prices. Our customers can enjoy just in time and supply chain with our unit being next to their factories," Pradeep Deshpande, general manager, packaging division of Vital Paper Products said.
A couple of years ago, the company had established two paper product manufacturing facilities in Sri City, one in domestic tariff area and the other one in special economic zone (SEZ) at an investment of Rs 300 crore. The packaging product unit will come up in the SEZ.
On Monday, the company performed groundbreaking for the new unit, which is expected to have a highly automated plant with a four colour printing facility and is expected to be ready by April, 2017.
Ravindra Sannareddy, founder managing director of Sri City, said the presence of companies like Vital Paper Products creates a symbiotic ecosystem for manufacturing industries in the industrial city.