 "products, Product packaging")
Global packaging solutions provider SIG will set up its first aseptic carton plant in India at Horizon Industrial Parks' facility in Ahmedabad.
SIG is partnering with Horizon Industrial Parks to set up its first aseptic carton plant in India, according to a company statement.
Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds.
The current portfolio comprises 17 industrial and logistics parks spread across more than 1,000 acres and with a development potential of 25 million square feet, which are in eight key markets in India.
"Horizon Industrial Parks will develop a build-to-suit facility to support SIG's manufacturing of aseptic carton packs for beverages and food," the statement said.
Of the 9,00,000 square feet of production space currently under construction, 8,00,000 square feet will be dedicated to SIG.
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"By building this plant, we are reaffirming our commitment to this thriving market, where we've seen tremendous demand for our high-quality products and services," Samuel Sigrist, CEO at SIG, said.
"We are focused on creating a customised facility that helps SIG serve its customers with the best quality material. This partnership is an important step towards supporting the government's mission of building high-quality manufacturing infrastructure and job creation," Urvish Rambhia, a Principal at Blackstone Real Estate, said.
Preliminary construction started in September 2023. The Ahmedabad-based facility will be fully functional by 2025. The plant is expected to reach a production capacity of up to 4 billion packs per year and to create hundreds of jobs for the local communities.
Founded in 1853, SIG is headquartered in Neuhausen, Switzerland, and is listed on the SIX Swiss Exchange.
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