Hotpack To Build SAR 1 Billion Packaging Production Plant In KSA Over 7 Years

(MENAFN- Asdaf News) Hotpack Global, the UAE-based global leader in food packaging products, has announced its plan to build one of the world's largest sustainable packaging plants at an estimated investment of SAR 1 billion in the Kingdom of Saudi Arabia. The company has signed a Memorandum of Understanding (MoU) for this investment with the Kingdom's Ministry of Investment and the Ministry of industry and Minerals, respectively. The agreement has been signed at a grand ceremony held at the Ministry of Investment headquarters in Riyadh in the presence of HE Khalid Al Falih, Minister of Investment; HE Osamah Alzamil, Deputy Minister of Industry and Minerals; HE Fahad Alnaeem, Deputy Minister of Investment; Mr. Abdul Jebbar PB, CEO and Group Managing Director of Hotpack Global, and senior officials from both the ministries. The delegation from Hotpack Global included Suhail Abdullah, Group Vice President; Dr. Mike Cheetham, Global Business Development Director, Suhas KA, Operations Director – KSA, and Muhammed Sherief, General Manager – KSA. The investment is in line with Hotpack's vision to become the world's top producer of packaging products for the food, agriculture and retail industries. The project is envisaged in multiple phases and upon completion, the project will address the expected surge in demand for sustainable packaging in the Kingdom. It will also augment the country's food security plans and support a robust food system. Hotpack will develop the state-of-the-art manufacturing plant, spreading over a land of land 2.4 million sq.ft, with advanced machinery and by deploying industry 4.0 technologies that integrate Internet of Things (IoT), Artificial Intelligence (AI), machine learning, cloud computing and analytics into its production and operation system. The project will enable Hotpack to achieve scalable capacity while focusing on sustainability and innovation. This investment also aligns well with its Vision 2030 in several aspects. With an expected employment to the tune of 1200, the project will also help Hotpack to acquire a significant market share in Saudi Arabia. “Once completed this will be the world's single largest manufacturing facility in the packaging industry to produce products from diverse raw materials such as paper, biomass, aluminium, and polymer. The proposed facility will help Hotpack increase its export by 30 to 35 per cent over the coming years. This facility also marks Hotpack's foray into the medical disposable products sector,” he added. “Sustainable packaging will continue to be the cornerstone of our research and we are collaborating with several global brands to help them transition to more sustainable options,” said Mr. Mike Cheetham. In pursuit of global ambition, Hotpack has exercised an aggressive expansion strategy through acquisitions and green field projects. Most recently, Hotpack opened its largest manufacturing plant in National Industries Park in Dubai for manufacturing Polyethylene terephthalate (PET) packaging products. Hotpack has to its credit the region's largest e-commerce platform dedicated to packaging products. Tags#hotpack #investment #packaging #products #saudi arabia 28 mins ago 298 2 minutes read

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