15 September 2006 14:36 [Source: ICIS news]
NEW DELHI (ICIS news)--India’s packaging films major Radha Madhav Corporation (RMC) said on Friday that it was tapping foreign investors for part funding of its Rs865m ($18.8m/€14.9m) pharmaceuticals-grade plastic packaging project at Pantnagar in Uttaranchal State.
The company said that its board of directors yesterday approved the issue of convertible debentures to raise Rs181m via investment vehicle India Star (?xml:namespace>
The project would have capacity to produce 16,000 tonnes/year of polyvinylidene chloride (PVdC) coated blisters used for packaging solid drugs, 4,000 tonnes/year of bilaterally oriented PVC shrink sleeves for packaging liquid dosages and 1,000 tonnes/year of collapsible tubes for ointments.
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