Gul Ahmed secures SITE land, approves more plots, energy projects
MG News | October 26, 2026 at 09:36 AM GMT+05:00
October 26, 2026 (MLN): The acquisition of Plot No. A-44 at Sindh Industrial Trading Estates Ltd (SITE), Nooriabad, District Jamshoro, has been completed, and the board has approved the purchase of five more plots in the same estate along with a wind, solar and battery storage investment at Gul Ahmed Textile Mills Limited (PSX: GATM).
The A-44 acquisition covers the
land, building, plant, machinery, allied equipment, fittings and appurtenances.
It follows the company’s earlier material information dated November 20, 2025.
The Board of Directors, at its
meeting on October 24, 2026, approved the acquisition of five plots at SITE,
Nooriabad, subject to due diligence and completion of the necessary corporate,
regulatory and legal formalities.
These are Plot No. B-80A
measuring 12 acres, together with the land, building, allied equipment,
fittings and appurtenances; Plot No. B-153 measuring 18 acres; Plot No. B-236
measuring 4 acres; Plot No. A-473 measuring 8 acres; and Plot No. B-268 measuring
1.75 acres.
In the same meeting, the board
approved the installation of three renewable energy projects.
The first is a 7.5MW wind turbine
from Goldwind, through Orient Energy Systems (Private) Limited. The second is a
solar power plant of up to 6MW capacity, with panels from JinkoSolar Holding
Co., Ltd. and local works by A2Z Energy Systems (Private) Limited.
The third is a 20MWh Battery
Energy Storage System (BESS) with a 0.5C rating from Sungrow Power Supply Co.,
Ltd., through Orient Energy Systems (Private) Limited.
The board has authorised the
Chief Executive Officer, acting singly, or the following two officers acting
jointly, to do all acts, deeds and things necessary to give effect to these
transactions and complete all formalities on behalf of the company: Mr. Muhammad
Kashif Riaz, Chief Financial Officer, and Mr. Salim Ghaffar, Company Secretary.
The aforementioned information
was disseminated through a notification to
Exchange.
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