Lotte Plans for Kolson

October 25/Karachi, Pakistan/Right Vision News -- South Korean business giant Lotte Group will sign an agreement with Kolson Foods Industry Pakistan to acquire its business in Pakistan, according to the Director General Board of Investment (BoI) Nasreen Ali. She said that Lotte has shown great interest in investing in diversified sectors of Pakistan due to untiring efforts of chairman BOI Saleem Mandivwala and his team, who have been working on this project since last year.

She said that the BOI chairman has been persuading Korean companies including Lotte to invest in Pakistan and had visited South Korea several times to attract investment. She said that Lotte has so far invested more than $800 million in Pakistan and planning to make new investment in energy, food and tourism and other areas.

Kolson Food is a manufacturing company dealing in snakes, chips, pasta, macaroni, biscuits and spegathi.

From the November 1, 2010, Prepared Foods E-dition