Ecopack Limited, the manufacturer of PET bottles and performs, would invest around Rs 370 million to modernise and expand its production capacity, said a stock filing Friday. "Company has decided for the Balancing, Modernisation and Replacement (BMR)/expansion of it's performs production capacity by around 25 percent," Ecopack's company secretary Muhammad Ali Adil told Pakistan Stock Exchange.
The intended BMR/Expansion would be operational in the fourth quarter of current financial year. "The total project cost would be around Rs 370 million," he said. For investable amount, the company tends to rely on banks and financial institutions. Also, Adil said Amjad Awan has been appointed as the company's Board of Director's chairman in place of Ayesha Khan who resigned "on her own accord" from September 1.