DG Khan Cement Company, a member of the Nishat Group of Companies, signed a joint venture agreement with Messrs Shuaiba Paper Products Company, Kuwait, to set up a paper sack manufacturing plant in Kallar Kahar, Chakwal District.
The agreement was signed by Raza Mansha, Chief Executive Officer of DG Khan Cement and Mohammad Abdul Aziz al-Bahar, Chairman, Shuaiba Paper Products Company on behalf of their respective sides.
According to a spokesman of Nishat Group, the project cost is estimated to exceed 17 million dollars. As per terms and conditions of the agreement, Nishat Group will hold 70 percent equity and the balance 30 percent will be direct foreign investment brought into Pakistan and will be held by Shuaiba Paper Products Company, which is part of Al-Ahlia Investment Company of Kuwait.
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