April 21, 2021 (MLN): Bulleh Shah Packaging (Pvt) Limited (BSPL), a 100% wholly-owned subsidiary of Packages Limited has approved an investment in a new state of the art corrugated packaging line, subject to exchange rate fluctuations and changes in duties/taxes if any.
According to the notice issued to Exchange, the expected nameplate capacity will be 115,000 tons per annum and the estimated project cost is up to Rs2.8bn.
The project shall be financed primarily with a mix of debt and internal cash generation and is expected to start commercial operations during the first half of the year 2023.
This expansion is in continuation of the expansion plans of BSPL under which BSPL is in the process of capacity expansion of its paper and board manufacturing operations by an additional 120,000 tons per annum, bringing the total capacity to 360,000 tons per annum approximately.
The Board of Directors of BSPL believes that these investments will be beneficial for its shareholder(s) in long run and demonstrates its's commitment to meet the increased demand for corrugated packaging within the country with enhanced quality, more convenience, and improved delivery times, the notice said.
BSPL is engaged in the business of manufacture and sale of paper & paperboard of all kinds and corrugated boxes with manufacturing facilities based in Kasur and Karachi.
