Wahdat Poultry acquires land for pasteurization plant

Wahdat Poultry Farm Limited has bought 1.02 acres of land in the Bhalwal Industrial Estate, Sargodha district, for Rs28.13 million, according to a notice it sent to the Pakistan Stock Exchange. Business Recorder reported the purchase, and the site is earmarked for a planned pasteurisation plant.

The purchase was paid for with money raised in the company's IPO, consistent with the use of funds outlined in its prospectus. Management called the deal a key step in its expansion plans for value-added products, and said the plant is expected to boost processing capacity, open the way into egg-based products and improve efficiency.

The company added that it intends to stay on schedule with its expansion projects and will update the exchange and shareholders on construction progress and installation of machinery. Its four automated layer farms can house roughly 430,000 birds and produce as many as 400,000 eggs daily, and the company also handles grading, packaging and distribution.