Hindustan Tin Works has set up a joint venture with the UK-based Rexcam Plcs Indian subsidiary Rexam Beverage Can India to manufacture two-piece beverage cans from a greenfield plant in Mumbai. Rexam Beverage will hold a majority stake of 51 per cent in the new entity while Hindustan Tin will hold the rest. The joint venture will operate through a new entity, HTW Beverage Can (India) Pvt Ltd, which will eventually become Rexam HTW Beverage Can (India) Pvt Ltd.
The plant, entailing an investment of about Rs 88 crore, is in advanced stages and expected to be operational by the end of 2006. The new facility will have an initial capacity of nearly 450 million cans per year.