Karachi January 7 2022: In order to curtail the impact of swelling electricity expense, which is a material component of cement manufacturing cost, the Power Cement decided to explore environment friendly renewable energy solutions without incurring any major CAPEX.
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Accordingly, the Company has signed an Agreement with Mis. Burj Solar Energy (Private) Limited (the Supplier) on January 06, 2022 for procurement of electricity on a fixed tariff (around 40% lower than the existing grid tariff) for the next twenty (20) years. The Supplier shall invest by setting up a dedicated 7MW Solar Power Plant at existing site of the Company, expected to be operational within the next six to eight months.