Packages Limited, a Pakistani multinational packaging company has said that its subsidiary Bulleh Shah Private Limited (BSPL) has announced an approved multi-billion rupees investment plan to enhance capacity.

“We wish to inform you that BSPL has informed the company through its letter dated April 20, 2021, that the Board of Directors of the BSPL, in its meeting held on April 16, 2021, has approved an investment in a new state-of-the-art corrugated packaging line with an expected nameplate capacity of 115,000 tons per annum and estimated project cost of upto Rs2.8 billion subject to exchange rate fluctuations and exchanges and duties/taxes if any,” said Package Limited in a statement on Wednesday.

It is pertinent to mention BSPL is in the business of manufacture and sale of paper and paperboard of all kinds and corrugated boxes with manufacturing facility space in Kasur and Karachi.

The company informed that the project shall be financed primarily with a mix of debt and internal cash generation and is expected to start commercial operation during the first half of 2023.

“The expansion is in continuation of the expansion plans of BSPL under which BSPL is in the process of capacity expansion of its paper and board manufacturing operations by an additional 120,000 per annum bringing the total capacity to 360,000 tons per annum approximately.’

The company said that the expansion will meet the increased demand for corrugated packaging within the country.