Frigoglass will invest €25-30 million to expand furnace capacity at its Beta Glass Guinea plant, located in Agbara, Ogun state in Nigeria.
The investment will increase capacity at the plant by 35,000 tons per year.
It includes a new furnace which will replace an existing one that has reached the end of its life, an additional production line, upgrades to existing production lines, as well as new inspection equipment to strengthen the plant’s capabilities.
It said the investment will drive growth in the company’s glass business across the West African region. The new furnace, with an expected productive life of more than 12 years, demonstrates its commitment to customers across West Africa.
The plant will also pioneer the use of Narrow Neck Press and Blow (NNPB) technology, which will enable production of lighter weight non-returnable glass bottles for the first time in West Africa.
The project is expected to become fully operational in 2020.
Frigoglass CEO Nikos Mamoulis, said:”This strategic initiative demonstrates our commitment to implement investments that will enable the group’s future growth.
“It supports the growth of our international and regional beverage customers in the high growth potential West African region.”
Abimbola Ogunbanjo, Chairman of Beta Glass, said: “We continue to implement investments to better cater to the growing needs of our customers for glass packaging.”
Darren Bennett-Voci, Glass Division Director of Frigoglass and Managing Director of Beta Glass, said: “This new larger furnace secures the livelihoods of our existing employees in Agbara, and creates not only additional jobs but also shareholder value and contributes positively to the development of the local community.”
The company added that its Frigoglass SAIC has completed the divestment of its glass container subsidiary Frigoglass Jebel Ali FZE to ATG Investments Limited.