KARACHI, PAKISTAN: Vitol Bahrain has offered to provide one LNG cargo of 140,000 cubic meters to Pakistan LNG Limited (PLL) at the rate of $12.77/mmbtu. PLL had invited bids for the supply of two LNG cargoes of 140,000 cubic meters each to be delivered on July 08-09, 2021 and July 12-13, 2021. However, just one…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
K-Electric announces launch of K-solar, a renewable energy company
KARACHI, PAKISTAN: K-Electric Limited (KE) has announced the launch of K-Solar, a renewable energy company that will enable the shift towards a greener and cleaner energy future. K-Solar is the solar power solutions subsidiary of K-Electric, a privately owned and vertically integrated power utility that has been the sole power supplier to Karachi and its…
Pakistan Kuwait Investment Company to make Rs500 million equity investment in Planet N
KARACHI, PAKISTAN: Pakistan Kuwait Investment Company (Private) Limited (PKIC) announces that it is making an equity investment of PKR 500 million in Planet N (Private) Limited. This is the largest equity investment by a local Financial Institution in a Tech Investment Platform in Pakistan. It was approved by the Board of PKIC in December, 2020….
Danish firms evaluate forming JV in Pakistan, it’s listing on PSX
VEJLE, DENMARK: Two Danish companies are evaluating owning a joint venture company, which would offer initial share sales on Pakistan Stock Exchange (PSX), to establish a water heating and purification products production and sales capacity in Pakistan. Green Impact Ventures’ subsidiary Waturu ApS, has entered into an LoI with a Danish company with the objective…
Shell Energy Pakistan receives gas marketing license from OGRA
KARACHI, PAKISTAN: The Oil & Gas Regulatory Authority (OGRA) has awarded a ‘gas-marketing license’ to Shell Energy Pakistan (Pvt) Limited, a news release said. Shell Energy Pakistan (Pvt) Limited has been incorporated with the aim of carrying out downstream gas marketing activities in Pakistan. It aims to aggregate demand from customers and secure competitive international…
Reliance Petrochem Industries petrochemicals exports to Europe
KARACHI, PAKISTAN: Reliance Petrochem Industries has secured a $145 million export order for Europe, and dispatched the first ever shipment of Made in Pakistan petrochemicals including white oils and textile oils. “First time in history ‘Made in Pakistan’ petrochemicals were launched in Barcelona Spain. We made this first export by bulk ship from Pakistan,” the…
Pakistan LNG Limited seeks 9 LNG cargoes of 140,000 cubic meters each
KARACHI: Pakistan LNG Limited (PLL) has invited bids for the supply of nine LNG cargoes of 140,000 cubic meters each on fixed dollar rate and tendering schedule for deliveries are from July 08 to August 28. The last date for bidding has been set at June 2nd, PLL noted in the tender. The PLL has…
Bestway Cement to setup Greenfield cement plant in Punjab
KARACHI, PAKISTAN: Bestway Cement Limited has announced to setup a Greenfield cement plant with a capacity of 7,200 tons of clinker per day in Punjab province along with 9MW waste heat recovery plant. Bestway Cement has entered into an agreement with Sinoma International Engineering Company of China for engineering, procurement and construction (EPC). “In view…
Engro Polymer to setup R&D think-tank for plastic waste management
KARACHI: Engro Polymer and Chemicals Limited (EPCL) plans to establish a Circular Plastics Institute (CPI), a not-for-profit think-tank, to promote research and development in Pakistan’s circular plastics economy, a news release said. Pakistan faces the pervasive problem of plastic pollution as the country generated 3.9 million tons of plastic waste in 2020, and it has…
Payment processor PayFast granted commercial license by State Bank of Pakistan
KARACHI: State Bank of Pakistan (SBP) has granted commercial license to PayFast, the indigenous payments solution by APPS, under its rules for Payment System Operators / Providers (PSO/PSP). PayFast enables merchants, billers, and aggregators to receive payments from their customers through a variety of methods such as bank accounts, wallets and domestic and international payment…
Supernet with partner Avara Technologies win multi-million dollar project in Pakistan
ISLAMABAD: Pakistan based Supernet Limited and their Australian partner Avara Technologies have been awarded a long-term program by a major Pakistani customer for the supply of multiservice multiplexers and associated operations, maintenance, warranty and support services. The combined revenue of the business awarded to Supernet so far exceeds PKR 400 million, and Supernet expects a…
Hatem Mohamad Bamatraf appointed CEO of PTCL in place of Matthew Willsher
KARACHI: Hatem Mohamad Bamatraf has been appointed Chief Executive Officer (CEO) of Pakistan Telecommunication Company Limited (PTCL), in place of Matthew Willsher, a news release said. Pakistan Telecommunication Company (PTCL) is the national telecommunication company in Pakistan. PTCL provides telephone and internet services nationwide and is the backbone for the country’s telecommunication infrastructure despite the…