New Delhi-based Petainer Innopac Packaging Pvt. Ltd., which makes 20 litre bulk water cooler jar ‘petainerCooler,’ is planning to set up two production units in the South and the North. It is also installing an additional line at its facility in Maharashtra. “In the next three years, we will have our expansion programme in place,” said Atit Bhatia, Managing Director. “While, we might select Chennai or Bengaluru to service the southern market, we are yet to decide on the location for the northern market,” he said.
“We follow asset-light model and hence the investments will be lower and the plant will be commissioned within four months as it happened in the case of our first plant,” he said.
Petainer Innopac is a joint venture between €100 million Petainer U.K. Holdings Ltd. and ₹500 crore Innopac Containers Pvt. Ltd. Innopac holds 51% equity stake in the joint venture. The balance and rest is held by Petainer. The plants company have a capacity to produce 14 lakh jars per annum.. The actual production is whereas it is producing 50,000 jars a month.
Investment
“Till date, we have invested so far ₹14 crore. The investment in new lines would be ₹14 crore each and for expansion ₹5 crore. We will finalise our plans for the South and the North as soon as we firm up contracts. We are hopeful of doing it soon as the market for ‘petainers’ is growing by 30% annually. As a new entrant, we are growing by 200%. Out of our total business, West accounts for 60% and South 30%,” he said.
Currently, Petainer imports preforms (raw material) and converts it into water jars. Going forward, the company might start manufacturing them here and it calls for a huge investment. “We are yet to identify the location. Certainly, plans are also on to export them to Asian, Middle East and neighbouring countries,” he said.
