Company to invest Rs 200 crore and employ 200 people
VAIBHAV PARWAT
Aurangabad, Jan 28:
Continuing investments, Telangana's leading Shrinath Flexipack Pvt Ltd has taken possession of land in Shendra phase of the Delhi-Mumbai Industrial Corridor (DMIC). The company will invest Rs 200 crore and will generate employment to 150-200 people. The Shrinath Rotopack, a subsidiary company has also signed an agreement to invest Rs 50-60 crore in the Shendra phase for manufacturing packaging material.
Giving more information, DMIC officials said that the Shrinath Flexipack is a leading manufacturer in foil paper and packaging material. The annual turnover of the company is around Rs 1500 crore. The company has signed an agreement with DMIC to acquire 15 acres of land in DMIC's Shendra phase. The construction of the company will start soon. Similarly, its subsidiary company, Shrinath Rotopack will also set up a plastic bottle handle and packaging unit on 5 acres of land in Shendra DMIC. The company will employ around 100 people. The production of both these companies will start after a year and a half.
Meanwhile, the investments have gained pace in the Auric city with several domestic and international companies visiting the DMIC and have now stepped up their investments. To date, 125 companies have been allotted plots in Auric, with an investment of Rs 5,000 crore and direct employment to 6000 people. This includes 63 companies from the countries, including Japan, Russia, Switzerland and Indo-American ventures have been allotted plots in Shendra DMIC. Some have completed the construction and are in production.