Canadian company Alcan is considering entering the pharmaceutical packaging industry in the country. Mr Michael Rubenstein, President of Alcan Packaging-Pharmaceutical and Personal Care, will be visiting the country soon to roll out its plans, said Mr Daniel Gagnier, Senior Vice-President, Corporate and External Affairs, Alcan Inc.
The global manufacturer of primary aluminium, light gauge sheets, foils and packaging materials believes there is a huge opportunity in the booming pharma industry in the country. "There is a huge opportunity, and we are likely to invest $50-60 million in a packaging plant, which is generally the kind of investment we make when we finalise our plans," said Mr Gagnier.
The company, which has been considering a joint venture with Aditya Birla-Hindalco in the aluminium-smelting project, said it will announce its decision in Orissa. But, according to Mr Gagnier, Alcan sees several opportunities in India and is considering other opportunities like aluminium melting, engineering products, and its other expertise.
It, however, will go through the joint venture route. "It will take us years to understand the cultural aspects of this country if we decide to go alone, it's much better to partner with someone here, it makes sound business sense," says Mr Gagnier.
Alcan also announced the winner of its million-dollar prize for sustainability, which went to the Barefoot College, Rajasthan.
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