ISLAMABAD: A British investment company intends to set up an aluminium beverage can plant near Islamabad.

The London-based Ashmore Group, which manages $75 billion in pool funds, segregated accounts and structural products and is dedicated to emerging markets, announced on Wednesday that it intends to expand the capacity of the can plant to over 1.2bn cans annually and will manufacture a range of standard and specialty beverage cans for markets in Pakistan and Afghanistan.

This will be the first of its kind manufacturing facility in the country with an expected annual capacity of over 700 million cans.

A delegation of Ashmore led by Jan Dehn held a meeting with Chairman of Board of Investment (BoI), Dr Ismail Miftah and informed him about the intention of the company to set up the can plant in Pakistan.

Mr Dehn informed the BoI chairman that Pakistan and Afghanistan are growing markets for beverage cans which currently rely on imported material.

The proposed Ashmore investment will substitute local production with imports and would help create job opportunities in Pakistan, delivering substantial cost and operational benefits for customers and helping to drive growth in the beverages sector.

The BoI chairman explained to the Ashmore delegation the investment opportunities and incentives for foreign investors under the government’s investment policy.

Published in Dawn, September 11th, 2014