Pakistani Glass Maker Signs MoU to establish a Plant in Europe

A Memorandum of Understanding with the Eastern European firm for plant setting up in Serbia has been signed by Ghani Global Glass Limited (GGGL).

At its meeting held on 28th June 2021, the Board of Directors of the GGGL approved the MoU and notified the Pakistan Stock Exchange (PSX) on Monday.

This is done in the form of a joint venture with the Serb firm with a share ratio of 50 per cent. The project will cover the production of glass ampoules and glass tubing vials to be delivered by the GGGL, the report added.

This project's initial cost is 2-2.5 million dollars. However, the project costs might go up to $9 million when ampoules and vials are added.

The Board of Management has also resolved to use GGCL's investment resources in Serbia as a strategy choice to "perhaps open the gates for GGGL glass tubes exports into Europe," stated the announcement.

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