Rs. 100 Crore Power Play: MTPL Open Production Capacity with 3 New Plants

Mold-Tek Packaging (MTPL), a leading rigid plastic packaging firm, has recently inaugurated three state-of-the-art manufacturing plants in Haryana, Tamil Nadu, and Telangana, representing a significant investment exceeding Rs 100 crore. The new facilities, located in Panipat, Cheyyar, and Sultanpur, are poised to contribute an additional 5,500 tonnes to the overall production capacity. These plants are anticipated to commence commercial operations in the coming weeks.

In a strategic move, Mold-Tek has secured land in Mahad, Maharashtra, for the establishment of another cutting-edge manufacturing plant, slated to be operational by October 2024. This facility, requiring an investment of Rs 20 crore, is specifically designed to cater to the needs of Grasim Industries, focusing on the production of pails. The Panipat, Cheyyar, and Mahad plants will collaborate closely to fulfill Grasim Industries' requirements through a co-located facility. Additionally, Mold-Tek is venturing into the food & FMCG sector at the Panipat facility and square packs manufacturing at the Cheyyar facility.

This expansion initiative is set to elevate MTPL's total manufacturing capacity to an impressive 54,000 MTA by the end of FY25. The move not only strengthens the company's growth prospects but also positions it favorably in the pharma packaging sector. Mold-Tek anticipates a substantial volume growth, projecting an increase of 15-18 percent from FY15 onwards, as all expansion projects become fully operational. This strategic expansion underscores Mold-Tek Packaging's commitment to innovation, excellence, and meeting the evolving needs of diverse industries.

News by Rahul Yelligetti