Beta Glass to Complete $30m Plant in June

  • Beta Glass to Complete $30m Plant in June

Beta Glass Plc announced its $30 million new plant expansion going on at Agbara, Ogun State is on schedule to be completed in June 2020.

In a statement put out by the company, the new furnace will increase the company’s annual capacity by 35,000 tonnes and pioneer the use of the Narrow Neck Press and Blow (NNPB) Technology in West Africa.

According to the company, the new technology will allow Beta Glass to bring lighter weight non-returnable glass bottles to market in Nigeria for the first time.

“The new Furnace will have a planned productive life for more than 12 years and will replace the existing furnace which will end its productive life by next year. The new furnace will also include an additional production line, improvements to existing production lines including the latest quality inspection equipment which will further enhance operational efficiency. The new furnace, which will be among the most advanced of its kind globally, will be instrumental to Beta Glass strengthening its position as the leading supplier of glass bottles and complementary packaging products in West Africa,” the company explained.

Speaking on the project, Otunba Abimbola Ogunbanjo, the Chairman of Beta Glass Plc, said “the new furnace will enable us to leverage the latest technology and our technical expertise to make world-class glass packaging products in Nigeria, while promoting sustainability and improving our environmental footprint. This investment will enable growth and create long-term value for both our shareholders and society.”

Darren Bennett-Voci, the Managing Director of the company, said: “We are delighted by the progress we have made so far on the expansion project. Our investment in this state-of-the art facility reaffirms our deep faith in Nigeria and the high growth potential of West Africa. The new furnace will significantly enhance our ability to meet the growing demand for glass bottles and jars in Nigeria and across West Africa, as well as create a number of new jobs, both direct and indirect. I would like to thank our stakeholders for the invaluable support since the inception of the project”.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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