According to the sources, a Pakistani glass maker firm ‘Ghani Global Glass Limited (GGGL)’ has signed an MOU to set up a plant in Serbia with an Eastern European company.
On Monday, June 28 GGGL’s executive board approved the MoU during a meeting and released an informing notification to PSX (Pakistan Stock Exchange).
As per the notification, this is to be carried out as a joint undertaking with the Serbian company with a 50% share. This plan includes the manufacturing of glass containers and bottles from GGGL provided glass tubes.
The executive has also made the decision that GGCL will use its resources for investing in Serbia as a strategic choice that will “possibly open the doors for the export of GGGL glass tubes in Europe,”.
The starting expense of this project is $2-$2.5 million. Still, as the bottles and containers machines are added, the project cost could increase up to $9 million.
