Ulfex Explores INR 2000 Crore Investment in Karnataka - Papermart

Ulfex Explores INR 2000 Crore Investment in Karnataka

The company is planning to invest in two phases and is expected to provide employment to 2,000 people.

August 20, 2020

Ulfex Explores INR 2000 crore Investment in Karnataka
Uflex Group

Uflex Group, manufacturer of flexible packaging materials and films used in packaging of essential commodities, has shown interest to invest INR 2,000 crore in Karnataka.

As reported in a leading daily, Mr. Jagadish Shettar, State’s Medium and Major Industries Minister met company’s Founder Chairman and Managing Director, Uflex Group, Mr. Ashok Chaturvedi and had a detailed discussion on the production of biodegradable plastic and starting a unit in the State and the necessary land required to set up the unit.

Mr. Chaturvedi told Mr. Shettar that the company would require 55 acres of land to set up a unit. With an additional four acres, the company can create housing facilities for workers, he said. Also, the proposed unit will make zero-waste and eco-friendly products that will be supplied all over the country, the statement said.

Mr. Shettar has asked the company to submit a formal investment proposal. He also explained the highlights of the new industrial policy 2020-25 and elaborated on the ease of doing business reforms in the state.