Ashmore Funds United Kingdom to invest in Pakistan’s first aluminium beverage can plant near Islamabad

Islamabad, September 10, 2014 (PPI-OT): A business delegation headed by Mr. Jan Dehn, Head of Research, Ashmore had a meeting with Dr. Miftah Ismail, Special Assistant to Prime Minister/Chairman, BOI and Mr. Imran Afzal Cheema, Secretary, Board of Investment.

Mr. Jan Dehn of M/s. Ashmore is a specialist of Emerging Markets investment group with US$75 billion under management (as on 30 June, 2014). He is also listed on the London Stock Exchange. He has announced his intention to invest in Pakistan’s from Ashmore fund in the first aluminium beverage can plant near Islamabad.

This will be the first of its kind manufacturing facility in Pakistan with an expected annual capacity of over 700 million cans. In due course, it is intended that the plant will be expanded to an annual capacity of over 1.2 billion cans and will manufacture a range of standard and speciality beverage cans for Pakistan and Afghanistan markets. The Ashmore’s investment plans are also supported by major customers in both the markets.

Mr. Jan Dehn further said that Pakistan and Afghanistan are growing markets for beverage cans, which are currently relying upon imported material. The Ashmore’s proposed investment will substitute local production with imports. This would help creating jobs in Pakistan, delivering substantial cost and operational benefits for customers and helping to drive growth in the beverages sector.

In this regard Mr. Jahanzeb Khan, Vice President and General Manager, PepsiCo Pakistan and Afghanistan Business Unit, said that PepsiCo Pakistan welcomes Ashmore’s proposed investment in a can plant in Pakistan.

It will provide significant benefits for the industry, generate further growth and they look forward to working with them. The Chairman, BOI highlighted about the incentives/facilities available to foreign investors in Pakistan.

He particularly referred to the conducive enabling environment as well as investor friendly policies of the present Government. Ashmore committed to avail further investment opportunities available in Pakistan. The investment proposal of Ashmore was appreciated by Dr. Miftah Ismail, Chiarman, BOI and also assured them full support of Board of Investment as and when needed.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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