Matco Foods secures Rs750m financing deal with Bank Alfalah

News Image

MG News | February 28, 2025 at 03:56 PM GMT+05:00

0:00

February 28, 2025 (MLN): Matco Foods Limited (PSX: MFL) has entered into a Rs750 million financing agreement with Bank Alfalah, one of Pakistan's premier financial institutions.

The funds will enable the expansion of production capacity from 200 tons per day (tpd) to 300 tpd grind, the company's filing on PSX revealed today.

This strategic partnership aims to enhance Matco Foods' com starch production capabilities to meet the growing demands of a diverse customer base.

The investment will be directed toward expanding Matco Foods' existing corn starch facility located in the Allama Iqbal Industrial City, Special Economic Zone (SEZ), Faisalabad.

This facility, operational since August 2022, has been pivotal in supplying high-quality corn starch to both domestic and international markets.

Additionally, a portion of the financing will be used to repay short-term loans.

As part of the agreement, Bank Alfalah will also have the option to convert its financing into ordinary shares equity in the new subsidiary of Matco that will house the Corn Starch Division, subject to regulatory approvals.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,360.00 119,440.00
118,145.00
65.00
0.05%
BRENT CRUDE 72.87 73.17
71.75
0.36
0.50%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.61 69.79
68.45
0.40
0.58%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July


July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg