PAKISTAN: Tri-Pack Films to invest PKR 2.2 billion on upgradation
Tri-Pack Films Limited (Tri-Pack) – a joint venture between Mitsubishi Corporation of Japan and Packages Limited of Pakistan, announced on Monday (5 Mar 2018) a new set of investments in Pakistan to acquire high-tech machinery for the production of specialized films.
The Board of Tri-Pack Films in annual general meeting held on Sunday (4 Mar 2018) has approved investments to the tune of PKR 2.2 billion.
The investments are to acquire state of the art machinery for the production of specialized film and transparent and high strength metalized films for the first time in Pakistan to cater to the export and local markets, said Company Secretary Adi J.Cowasji.
He further added that additionally, the investments are also aimed to improve efficiencies in the existing operations. “The cash outflow for the project would span around 12 months and shall be sourced from in-house cash generation and borrowing from financial institutions. The cost of projects is sensitive to exchange fluctuations and any change in duty/taxes”, added Cowasji.
Tri-Pack is principally engaged in the manufacturing and sale of Biaxially Oriented Polypropylene (BOPP) film and Cast Polypropylene (CPP) film.
Source: “The Daily Times”, Lahore; 6 Mar 2018
(Syed Rashid Ali, Karachi, Pakistan)