Karachi September 18 2023: Lucky Cement Limited announced 37.6 MW renewable projects with an investment outlay of PKR 11 billlion, according to company filing to the exchange.
"The Board of Directors of Lucky Cement Limited has approved to undertake a 28.8 MW captive wind power project at its Karachi plant. The project is expected to be completed by the end of FY 2024. Moreover, the Board has also approved to undertake solar power projects, of 6.3 MW and 2.5 MW at the Company's Karachi and Pezu plants respectively, which are expected to be completed by Q3 of FY 2024" as per company filing.
These solar power projects are in addition to the 25 MW and 34 MW solar power projects commissioned recently at Karachi and Pezu plants respectively.
"The estimated Cost of the above upcoming projects is PKR 11 Billion. Keeping up with company's commitment towards sustainable environment practices, the contribution of renewable energy in the power mix will significantly increase after the completion of the above-mentioned projects" company statement added.
