“We are pleased to inform you that the company has successfully completed its greenfield project within the scheduled time, at Bhilad (Gujarat), India, for the manufacturing of packaging products, i.e. conical polymer pails and injection moulded products.
This is an additional dedicated plant set up for this specific product line, established with a fully automated plant using robotics,” Time Technoplast said.
The plant has been set up as an additional dedicated facility for manufacturing packaging products, including conical polymer pails and injection-moulded products. The facility is fully automated and uses robotics.
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The plant has an estimated annual production capacity of 6,000 tonnes and involved an investment of approximately ₹24 crore, the company said. At an estimated capacity utilisation of 90%, the plant is expected to generate a turnover of approximately ₹100 crore.
The company said the fully automated facility is designed to reduce human intervention and administrative costs through the use of modern technology, with the aim of improving operating efficiency and capacity utilisation for the product line.
Installation of the plant and machinery has been completed, and production is scheduled to begin on September 25. Shares of Time Technoplast Ltd ended at ₹173.65, up by ₹0.100, or 0.058%, on the BSE.ALSO READ | Time Technoplast secures PESO nod for high-pressure composite cylinders
