Shrinath Flexipack Pvt Ltd, an India-based manufacturer of plastic packaging materials, has finalised an agreement to build its first factory in the Middle East at KIZAD.
The investment of AED 55 million ($15 million) will allow the Hyderabad plastics player to set up on a greenfield site within KIZAD’s Polymers Park.
The new facility will serve Shrinath Flexipack’s clients in the Middle East, while also enabling the firm to expand its reach into African and European markets.
Khalid Al Marzooqi, Director Commercial, KIZAD, says: “The setting up of a packaging company like Shrinath Flexipack setting up in the KIZAD Polymers Park, shows the true value of our cluster-based approach which enables companies within the zone to benefit from each other’s products and services in close proximity, leading to lower cost of production, faster production cycles, and quicker shipment to market.”
“KIZAD’s multi-modal connectivity including Abu Dhabi Ports’ flagship deep-water port, Khalifa Port, is a boon for companies such as Shrinath Flexipack who plan to export and import out of Abu Dhabi.
Shrinath Flexipack is part of the Shree Group of Industries, an Indian supply chain, logistics and warehousing group with operations in flexible packaging, masterbatches, poly bags, stretch and speciality films, laminated woven sacks, and pharmaceutical products.
Upon completion, Shrinath Flexipack’s newly constructed Abu Dhabi site will produce up to 30,000 metric tonnes of plastic goods per annum.
