Pakistan’s Glass Maker Company MoU to Install Plant in Europe
According to the sources, the Pakistani glass manufacturer ‘Ghani Global Glass Limited’ (GGGL) has inked an MOU with an Eastern European company to establish a plant in Serbia.
Monday, June 28th, GGGL’s executive board accepted the MOU during a meeting and informed PSX of the agreement (Pakistan Stock Exchange).
According to the notification, this is to be conducted as a 50 percent joint venture with a Serbian company. This plan comprises the production of glass containers and bottles using glass tubes supplied by GGGL.
The leadership has also decided that GGCL will deploy its resources in Serbia as a strategic move that could “potentially open the doors for GGGL glass tube exports in Europe.”
This project’s initiation costs are between $2 and $2.5 million. With the addition of the bottle and container machinery, however, the project cost could reach $9 million.
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