As per this report in Business Standard , Oricon Enterprises Ltd of Parijat Enterprises which is into marine logistics, packaging, petrochemicals and automobile dealership, will invest Rs 100 crores to build a manufacturing facility in Odisha for packaging products. The facility will be used to manufacture new packaging products. The project will be funded from internal accruals.
As part of its strategy to consolidate its presence in the Indian caps & closures market, the company has been adding capability by raising the production. Oriental Containers Ltd, a wholly-own subsidiary of OEL, recently completed expansion of its plastic closures manufacturing capacity, which involved investment of Rs 35 crores, at Murbad in Maharashtra. This expansion has added a capacity of 1.2 billion closures per annum, taking the total installed capacity to over 8 billion per annum – highest in India.
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