Mumbai, August 11: Polymer packaging leader Pyramid Technoplast Limited has announced a greenfield expansion with a new facility at Kutch, Gujarat while also securing capital incentives and state government subsidies for its existing manufacturing units in Wada, Maharashtra, and Bharuch, Gujarat.
The new Kutch plant, scheduled to be commissioned by March 2027, will come with a capacity of 10,000 Intermediate Bulk Container (IBC) units per month, significantly strengthening the company’s industrial packaging footprint across Western India. With an investment of ₹25 crore, Pyramid Technoplast is looking to lower freight costs and offer faster deliveries to its customers in the region.
Besides that, the company has received government subsidy approvals worth ₹24.9 crore for its Wada facility in Maharashtra, while another ₹10.5 crore has been approved for its Bharuch facility. In total, the ₹35.9 crore potential subsidy support is expected to help company receive subsidy support, subject to applicable approval and disbursement processes.
These benefits are expected to help lower capital costs for these projects, improving the ROCE, IRR and project payback for the operations, while generating visibility in the long term.
“We are pleased to announce these two important developments as we continue to strengthen the foundation for Pyramid Technoplast’s next phase of growth. Our Kutch expansion will add 10,000 IBC units per month of capacity and strengthen our presence in Western India, while also providing meaningful logistical and customer-service advantages.
At the same time, the government subsidy benefits secured for our Wada and Bharuch facilities will reduce the effective cost of our investments and further improve the return profile of these assets. These developments are aligned with our broader strategy of expanding capacity in line with market demand while maintaining disciplined capital allocation.
With our existing manufacturing footprint continuing to ramp up, the Kutch facility adding incremental capacity and efficiency initiatives such as solar and recycling contributing to cost optimisation, we remain focused on converting our expanded manufacturing platform into higher utilisation, stronger profitability and improved returns over the medium term.” Mr. Bijay Agarwal, Managing Director, Pyramid Technoplast Limited, said in a press release.
