Pakistan’s public-limited company, Tri-Pack Films Limited (Tri-Pack), has announced to establish a Biaxially Oriented Poly Propylene (BOPP) film manufacturing line.

“The board of Tri-Pack Films Limited in its meeting held on December 2, 2020 has approved investment in a new state-of-the-art Biaxially Oriented Poly Propylene (BOPP) film manufacturing line subject to successful financial close with banks on the borrowing facilities,” announced the company in a statement.

The company informed that the project cost is estimated up to PKR 9 billion and is sensitive to exchange fluctuations and changes in duty/tax.

About the project’s financing, the company informed that it shall be financed primarily with a mix of debt and internal cash generation with the start of commercial production targeted during 2023. Equity injection if required shall be sought at a later stage, said the company.

“The above investment demonstrates the company's commitment to ensure it caters to the increased demand of BOPP films in Pakistan and offer faster delivery, better quality, greater convenience, and increase flexibility,” said the company.

It is pertinent to mention that the company is a joint venture between Mitsubishi Corporation of Japan and Packages Limited of Pakistan. Tri-Pack was incorporated in Pakistan in 1993 and commenced commercial production in 1995.

In 2008 the Company installed its Cast Polypropylene Film (CPP) manufacturing line of 7,000 tonnes per annum.