Pyramid Technoplast Acquires Land for New Manufacturing Unit in Maharashtra

Pyramid Technoplast Ltd. has finalized a memorandum of understanding (MoU) for the acquisition of 10 acres of land valued at ₹12 crore in Wada, situated in Maharashtra's Palghar district within the Konkan division.

The company is poised to embark on the establishment of a new manufacturing unit, which will be rolled out in three phases over the course of the next four to five years, according to company sources.

Commenting on the development, the company stated, "The strategic move aims at augmenting production capacities within the polymer drums, Intermediate Bulk Containers (IBC), and MS drums segments. This expansion initiative not only marks a diversification of business operations into other states but also ensures cost-efficient service delivery to the region."

Upon achieving full capacity utilization, Pyramid Technoplast anticipates an annual revenue potential of approximately ₹400 crore from the new manufacturing unit.

HBL