Pakistani Company Ghani Global Glass Limited (GGGL) Signs MoU To Set Up Plant In Eastern Europe

The plant will potentially open the doors to export glass tubes in Europe.

Ghani Global Glass Limited - BR Research - Business RecorderThe Pakistani glassmaker firm, Ghani Global Glass Limited, (GGGL) has signed a memorandum of understanding (MoU) with a Serbian company to set up a plant in Serbia.

The GGGL’s decision to establish the plant in the Balkan country will likely open the doors to export Pakistani glass tubes in Europe.

Serbia is a country in the Balkan region of Eastern Europe. Pakistan has an embassy in the Serbian capital of Belgrade since 2001. Nevertheless, Serbia shut down its embassy in Islamabad in 2001 due to “financial reasons.”

In 2012, Pakistan officially recognized the Republic of Kosovo as an independent country, which Serbia claims as part of its territory.

Serbia (orange) and Pakistan (green) on a map.

The executive board of the GGGL endorsed the MoU during the meeting and released an informing notification to the Pakistan Stock Exchange (PSX) in this regard.

According to the notification, the implementation of this project will be done through joint undertaking with each side having a share of 50%.

Moreover, the manufacturing of glass ampoules and vials for glass tubes will be supplied by the GGGL.

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The GGGL executive board has also decided that the company will use its resources from Pakistan for investing in Serbia as a strategic opportunity.

This will “likely open the doors for the export of the company’s glass tubes in Europe.”

The starting cost of this project is forecast to be around $2-$2.5 million.

Corning receives grant to assist development of new glass tubing plant - - The World's Leading Glass Industry Website

Nevertheless, with the addition of glass ampoules and vials machines, the cost is expected to shoot up to $9 million.

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