Finnish packaging firm Huhtamaki is planning to establish three new manufacturing units in a bid to boost its flexible packaging business.
One of the three facilities is planned to be built in Cairo, Egypt while the other two units in North East India.
Huhtamaki said that the investment in Egypt marks its entry into manufacturing flexible packaging in Africa.
Huhtamäki CEO Jukka Moisio said: "With its rapid population growth Africa is expected to offer sizable future growth opportunities to us and our customers.
"With the investments in India we will further improve our geographic coverage of the country and our ability to service customers in food and pharma industries.
“After these additions our total number of manufacturing units in India grows to 17."
The planned €23m Egyptian manufacturing unit will be owned and operated by Huhtamaki with 75% stake, while the remaining interest is owned by Huhtamaki's Egyptian joint venture partner in Molded Fiber business since 2003, Ayman Korra.
Upon commissioning scheduled during 2018, the facility expected to employ 300 people.
In India, the company plans to set up and commission a flexible packaging manufacturing unit in the state of Assam and a label manufacturing unit in the state of Sikkim during the first half of 2017.
The firm is also planning relocate and modernize its label manufacturing unit in Mumbai, Maharashtra, a state in India, by the end of 2017.
The total amount planned to be invested in the Indian projects is expected to be approximately €9m.
