Barkat Frisian says to set up Rs500mn dried egg powder plant
Barkat Frisian Agro Limited (BFAGRO) said on Wednesday it would set up a dried egg powder production facility with an amount of Rs500 million financed through a debt facility and the company resources.
The company shared the development in a notice to the Pakistan Stock Exchange (PSX).
'In accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange, we are pleased to announce that the Board of Directors of Barkat Frisian Agro Limited (the 'company') has approved a new capital investment project.
'…To incur a capital expenditure of approximately PKR 500 million in setting up a dried egg powder production facility, marking its expansion into a new product segment,' the notice read.
Barkat Frisian Agro shares surge 10% on PSX debut, hit upper limit at Rs20.02
The project would be financed through a debt facility and the company resources, while the plant is expected to have an annual production capacity of 720–1,080 metric tons per annum, it added.
'This strategic expansion is expected to significantly contribute to the company's revenue growth and diversify its income streams. We are confident that this new product segment will unlock new market opportunities and create value for our shareholders,' the company said.
Barkat Frisian Agro Limited – a joint venture of Frisian Egg Group of Netherlands and Pakistan's Buksh Group – hit the maximum price limit on the first day of the Dutch auction on February 17, 2025, raising equity worth totalling at Rs1.23 billion through selling 67.74 million shares at the PSX.
Established in 2017, Barkat Frisian specialises in pasteurised egg products, including whole eggs, yolks, whites, and derivatives, catering to the HoReCa (hotel, restaurant, and cafe) sector, sauces, and mayonnaise industry, as well as the baking and confectionery market.
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