KARACHI: Kohat Cement Company Limited has announced setting up of 7,800 – 10,000 tpd Cement Manufacturing Plant along with 8-10 MW Waste Heat Recovery and 25MW Coal Fired Power Plants in Punjab. The estimated cost of the project is Rs30 billion, which shall be financed through mix of debt and equity and it is expected…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Carrington Textiles forms JV with Sapphire Textiles in Asia, announces growth in Europe
LANCASHIRE: Britain based Carrington Textiles and Sapphire Textile Mills have formed a joint venture in Pakistan under the name of Carrington Textiles International, with new textile dyeing and finishing operations that will provide up to 20 million meters a year of dyed and white fabric. “Sapphire Textile Mills has agreed to form a Joint Venture…
Packages Limited to acquire Mitsubishi’s stake in Tri-Pack Films
KARACHI: Packages Limited has expressed intention to acquire Mitsubishi Corporation’s 19.33 percent shareholding in Tri-Pack Films Limited. Mitsubishi Corporation had indicated its intention of selling its entire 19.33 percent shareholding of Tri-Pack Films Limited. As per the agreement between the parties, Packages Limited has first right of refusal to purchase the entire shareholding of Mitsubishi…
Suleman Lalani appointed Chairman JS Investments’ Board
KARACHI: Board of Directors of JS Investments Limited has appointed Suleman Lalani as Chairman of the Board of the company with affect from February 09, 2021, in place of Kamran Jafar. Mr. Suleman Lalani joined Jahangir Siddiqui & Co. Limited (JSCL) on March 1, 2012 as Chief Executive Officer. Prior to joining JSCL he was…
K-Electric would recover an additional Rs3.9 billion from consumers
KARACHI: K-Electric Limited would collect an additional Rs3.9 billion from consumers on account of fuel cost adjustment (FCA) for the months of June to December 2020. Recovery of these outstanding amount against electricity supply is subject to approval by the National Electric Power Regulatory Authority (NEPRA). K-Electric proposed to recover a total of Rs6.118 billion…
SSGC initiates tracing of attachable assets to realize debts and receivables
KARACHI: Sui Southern Gas Company (SSGC) has initiated an exercise for tracing of attachable assets for realization of the debt and outstanding amounts by attachment and auction proceedings. SSGC, through a third party, would trace attachable assets and title documents for filing and instituting of recovery suits, execution proceedings against defaulters and judgment debtors for…
CEO of Bahria Town’s Escorts Investment Bank resigns
KARACHI: Naveed Amin has resigned from the position of Chief Executive Officer (CEO) of Escorts Investment Bank Limited (EIBL), a news release said. Naveed would continue to serve as Director of the bank and perform his responsibilities as CEO of the bank till the completion of notice period of three months starting February 06, 2021….
Dynea Pakistan’s new plant commences commercial production
KARACHI, PAKISTAN: Dynea Pakistan Limited has notified the installation of a new moulding compound plant at Gadoon Unit is completed and the plant has commenced commercial production. The Board of Directors of Dynea Pakistan Limited has approved the installation of a new Moulding Compound Plant at the Gadoon Unit in July 2020. With the…
Ghandhara Nissan to manufacture Chery cars/SUVs in Pakistan
KARACHI: Ghandhara Nissan Limited has entered into formal arrangements with Chery International Corporation – Wuhu, China for manufacturing and distribution of Chery passenger cars (SUVs/ Crossovers) in Pakistan. Ghandhara Nissan has submitted its business plan to Board of Investment. The project will be executed after getting regulatory approvals and fulfillment of other ancillary requirements. Pakistan…
AGP Limited led SPV to acquire product portfolio of Sandoz
KARACHI: AGP Limited, along with its parent Aitkenstuart Pakistan, has formed a special purpose vehicle (SPV), to acquire a select product portfolio of Sandoz AG. “The Board of Directors has authorized AGP Limited to participate with its parent company Aitkenstuart Pakistan through a special purpose vehicle (SPV) setup by Aitken for the purpose of acquisition…
K-Electric committed to keeping industries powered up
KARACHI: Following the Federal Cabinet’s approval of moratorium on gas supply to industrial units for self-generation of electricity, K-Electric (KE) continues to remain fully committed to facilitating Karachi’s industrial customers in line with the Ministry of Energy’s (Power Division) direction to expedite fresh electricity connections and improve power supplies. KE is closely engaged with the…
Vitol Bahrain to supply Pakistan with two LNG cargoes in April
ISLAMABAD: Vitol Bahrain has offered the lowest rates for supply of two sport cargoes tendered by Pakistan LNG Terminal for delivery in April 2021. Pakistan LNG Limited (PLL) has received even lower bids for two LNG cargoes for April in the range of 10.89 percent to 11.05 percent of Brent against the tender that closed…