Now Reading: HNGIL to invest Rs 280 crore, double Haryana glass plant capacity
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HNGIL to invest Rs 280 crore, double Haryana glass plant capacity
Hindusthan National Glass & Industries Ltd (HNGIL) will invest Rs 280 crore to expand its Bahadurgarh plant in Haryana, doubling daily capacity from 300 to 600 tonnes within 60 to 90 days,…
Hindusthan National Glass & Industries Ltd (HNGIL) will invest Rs 280 crore to expand its Bahadurgarh plant in Haryana, doubling daily capacity from 300 to 600 tonnes within 60 to 90 days, the company announced. Of the total outlay, Rs 180 crore is earmarked for capital expenditure and Rs 100 crore for operating expenses over three years. The move is expected to create jobs and deepen HNGIL's presence in North India.
A delegation led by HNGIL Chairman Shrai Madhvani met Haryana Chief Minister Nayab Singh Saini on Tuesday to brief him on the plans. The 50-acre Bahadurgarh unit is among the company's seven plants across India, including sites in Rishra, Rishikesh, Neemrana, Naidupeta, Nashik and Puducherry.
The investment is part of HNGIL's revival after its acquisition by Independent Sugar Corporation Limited (INSCO), backed by the Madhvani-Turner Group. The company has also outlined a broader ambition to invest Rs 10,000 crore in India over five years.
Indian Opinion Analysis
HNGIL's expansion comes months after it was acquired by INSCO, part of the Madhvani-Turner Group, which also owns the century-old Hindusthan National Glass brand. The glass industry in Haryana has been erratic, with some units idling due to gas pricing disputes. A capacity jump from 300 to 600 tonnes per day within 90 days is unusually aggressive, indicating the group has already secured raw material and gas supply. The broader five-year Rs 10,000 crore capex plan suggest HNGIL is betting on rising demand from beer, liquor, and pharmaceutical bottle makers after the pandemic. The next concrete signal to watch is whether HNGIL achieves revised deadline for the plant doubling.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
