HBL tapped to arrange financing for Mari-GCIL project
MG News | March 31, 2026 at 03:32 PM GMT+05:00
March 31, 2026 (MLN): Habib Bank Limited (PSX:HBL) has been awarded the financial mandate to arrange project financing for GHG Emissions Mitigation Limited (GEM), a newly established project company formed by Mari Energies Limited (PSX:MARI) and Ghani Chemical Industries Limited (PSX:GCIL).
GEM was set up to mitigate methane emissions from the Sachal
Gas Processing Complex (SGPC) by recovering hydrocarbons from exhaust gas to
produce liquefied natural gas (LNG), as well as industrial and food grade
carbon dioxide (CO₂).
The mandate was formally awarded to HBL in a ceremony held
on March 31, 2026, at MariEnergies' Head Office in Islamabad.
The project will be funded through a combination of equity
contributions from the sponsors and debt financing arranged by HBL.
The agreement remains subject to requisite approvals and the
completion of procedural formalities.
The aforementioned information was disseminated
through a notification to Exchange.
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