Hindustan Sanitaryware & Industries is to increase its container glass division by setting up a new facility at a different location in Andhra Pradesh. The new facility is expected to have production capacity of around 425/tpd & the project would be funded through additional debt & internal accruals & is expected to be completed by the first quarter of 2009, the company said in a filing to the Bombay Stock Exchange. The company, which manufactures glass bottles & jars for foods etc, has current capacity of around 950M containers/pa & has been operating at full capacity for some time. The move would help reduce costs of production as the new location is expected to have access to natural gas & would free up around 33 acres land in prime real estate of Hyderabad, which could be used for other profitable purposes, the company said.
