Cherat Packaging Limited, a leading packaging producer listed on Pakistan Stock Exchange (PSX), has announced plans to install a fourth polypropylene line.
In a notification issued to the PSX, the company said, “In view of rising demand for polypropylene bags produced by the company, the Board of Directors of Cherat Packaging Limited in its meeting held on January 5, 2021, has decided to enhance its production capacity by installing its fourth polypropylene line for woven bags,” informed the company in its filing to the bourse on Tuesday.
For this purpose, the company is going to acquire the plant from Ms Windmoller & Holscher. The letter read that the company “Has once again decided to acquire the plant from the supplier “which is the leading supplier of such equipment.”
ALSO READ
PSX Poised to Reach a New High in 2021, Expected to Cross 55K
The company said, “The plant which is the fastest and the most efficient equipment of its kind will have a production capacity of approximately 65 million bags per annum.”
It also informed that the line will be installed at the existing site in Gadoon Amazai, Khyber Pakhtunkhwa province. “Addition of this plant will take the total production capacity of probe polypropylene division to 260 million bags per annum.”
The total cost of the project is approximately Rs. 1.10 billion, and it is expected to be commissioned by December 31, 2021. “The project will principally be financed through a long-term loan,” Cherat Packaging Limited said.
Wah Company Ki Installation Aur Machinery Ki Details Bhi Ab Aya Kareigi