Karachi September 28 2021: Biafo Industries Limited has signed an agreement for purchase and installation of a new signal transmission tube manufacturing plant.
Total cost of this project is. Rs. 392M. The project is on debt/ equity basis whereby term finance loan of Rs. 250M has obtained from Allied Bank Ltd under SBP's temporary economic refinance scheme for import of plant and machinery and remaining amount will be paid by Biafo as equity contribution.
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This is an import substitution project with excellent margins for the Company. The Company eyes the signal transmission tube sales for not only the local market but to develop an export market also.