Rafhan Maize Products Co. Limited (RMPL) is set to enhance its production capabilities with a significant expansion initiative.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
“The management of Rafhan Maize Products Co. Limited (Rafhan Maize) is pleased to announce the initiation of a project to increase our grind capacity by 200 tons per day and glucose capacity by 100 tons per day.
“This strategic enhancement will empower us to deliver superior service and a more comprehensive range of solutions to our valued customers,” read the notice.
The company said it is confident that the project will significantly boost its operational efficiency and customer satisfaction.
“Moreover, this expansion is poised to generate substantial benefits for our stakeholders, including increased shareholder value, enhanced market competitiveness, and the creation of new job opportunities within the community.”
It added that the latest expansion “not only fortifies the company’s position in existing markets but also paves the way for sustainable growth in its exports and profitability”.
Rafhan Maize Products Company Limited was incorporated in Pakistan. Ingredion Incorporated, based in Chicago, USA, holds the majority shares of the company.
RMPL started its operations in Pakistan as a corn refining industry in 1953. Over the years, the company has grown into one of Pakistan’s biggest agro-based industries.
The company uses maize as the basic raw material to manufacture and sell some industrial products, the principal ones being industrial starches, liquid glucose, dextrose, dextrin and gluten meals.
RMPL turned into a public limited company in 1985.
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