Unity Foods Ltd to acquire edible oil refinery at a total cost of Rs850 million

MG News | February 12, 2019 at 12:27 PM GMT+05:00

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February 12, 2019 (MLN): The Board of Directors of Unity Foods Limited has approved the acquisition of edible oil refinery with a capacity of 500 tons per day, situated at Port Qasim, Karachi at a total cost of approximately Rs. 850 million including transfer taxes and other pertinent costs.

The project includes land, building, installed and running plant and machinery with all ancillary assets. The company expects to take physical possession of the refinery in next two to three weeks.

The company also expects to incur additional expenses to refurbish the plant and enhance the packing capacity and bring full commercial operation online by July this year, a notification issued by the company said on Tuesday.

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