Packaging solutions firm Uflex Ltd plans to invest Rs1,700 crore to enhance its manufacturing capacity and set up a solar power project in Uttar Pradesh (UP).
Uflex lays a lot of emphasis on environmental sustainability in all its business processes therefore they propose to set up a solar project on 300 acres of land with an investment of approximately Rs1,200 crore.
Power generated from the proposed project will be used for captive consumption, while the surplus will be either be transmitted to Uttar Pradesh or to the national grid.
The proposed project is expected to generate employment for 500 people at various levels, the company said. Headquartered in Noida, Uflex has manufacturing facilities in India, the UAE, Mexico, Poland, Egypt and the US.