In a statement issued to Pakistan Stock Exchange, Biafo Industries has announced that it has signed an agreement to purchase and install a new signal transmission tube manufacturing facility at a cost of Rs. 392 million.

BIFO said that the project is being financed through a mixture of Debt and Equity with Rs. 250 million debt arranged through SBP-Temporary Economic Relief Facility via Allied Bank Ltd at a concessionary rate.

The project will have significant impact on the earnings going onwards as company intends to tap both domestic and Export markets of the said product.

Biafo Industries Limited is principally engaged in the manufacturing and sale of commercial explosives and blasting accessories including detonators and other materials.

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