The Board of Directors (BOD) at The Organic Meat Company Limited (PSX: TOMCL) has granted approval for a substantial expansion plan totalling Rs600 million aimed at upgrading and expanding the company’s production facilities, according to a notice submitted to Pakistan Stock Market.
TOMCL’s notice highlights that the company will undertake a significant expansion of its existing meat chilling and freezing capacities through an increased investment outlay of Rs600 million. This adjustment in the proposed capital expenditure budget represents an additional Rs150 million from the initially approved and reported estimates.
DEMAND
The markets in question are the Central Independent States (CIS), the People’s Republic of China (PRC), the Kingdom of Saudi Arabia (KSA), and the Republic of Iraq.
TOMCL’s management anticipates substantial growth opportunities for its products in the mentioned markets and emphasises that the current expansion aligns with these growth expectations. The company aims to enhance its business footprint by catering to current and future export orders.
The notice to PSX highlights the positive impact expected from the expansion plan on TOMCL’s business, foreseeing increased value for its shareholders in the future.
