RIYADH: The UAE-based food packaging manufacturer Hotpack Global is planning to invest 350 million dirhams ($95 million) over the next 10 years to build 10 biodegradable packaging plants in Malaysia.
This comes in partnership with a Malaysian manufacturer of biodegradable products Free The Seed and facilitated by Malaysian Bioeconomy Development Corp., according to a statement.
The plant will be Hotpack’s first-ever factory in Southeast Asia.
Construction of the first 3,200 sq. m production plant, which will be located next to Free The Seed’s existing facility and will begin in May 2022 and be completed in August 2022.
The first facility is expected to produce 70 million units of fast-moving consumer goods packaging products per year.
