Karachi September 28 2021: Service Fabrics Limited is actively in process for setup of import substitute Calcium Carbide project already announced to setup in Hattar Economic Zone, as per information shared by the company at Pakistan Stock Exchange (PSX).
In this respect the Company has awarded Civil Contract of Calcium Carbide project to an experienced and renowned firm.
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After selection of imported portion of Plant and Machinery, contract has been signed with the supplier. The Company has received in principle approval of bank for opening of letter of credits and LC's are expected to be opened shortly after removal of legal impediments (created due to ceased operating activities since October 2004) to meet the requirements of IRIS (FBR system).