MARI to inject Rs2.44bn equity Into GHG Emissions

May 22, 2026 (MLN): In a major push toward energy transition and environmental sustainability, the shareholders of Mari Energies Limited (PSX: MARI) have officially approved a massive financial and strategic backing package for its subsidiary, GHG Emissions Mitigation Limited (GEM).

The financial package is split into two major strategic pillars aimed at ensuring the GEM project near the Sachal Gas Processing Complex is fully funded and credit-backed.

1. Direct Equity Injection of PKR 2.44 Billion

Under the first Special Resolution, Mari Energies will inject up to PKR 2,448,000,000 (PKR 2.44 billion) directly into GHG Emissions Mitigation Limited.

The investment will be made by subscribing to 244.8 million right shares issued by GEM at a face value of PKR 10 per share. This direct equity boost ensures the subsidiary has immediate liquidity to deploy toward project development.

2. Massive Credit & Sponsor Support Agreement (SSA)

To secure the heavy lifting required for project debt, shareholders greenlit a comprehensive Sponsor Support Agreement (SSA) in favor of Habib Bank Limited (HBL) and a syndicate of other financiers.

The agreement backs a massive financing framework being obtained by GEM, which includes:

• A Letter of Credit (LC) Facility of up to USD 38 million (+/- 5%).
• A Funded Debt Facility of up to PKR 14,400 million (PKR 14.4 billion).

Combined, the debt facilities being backed approach nearly PKR 25 billion based on current exchange rates. Mari Energies will provide sponsor support strictly proportional to its shareholding to cover potential project cost overruns, base equity funding commitments, and Debt Service Reserve Account (DSRA) requirements.

The mega-investment is earmarked specifically for a state-of-the-art gas mitigation and energy production facility located near the Sachal Gas Processing Complex.

As global and domestic pressures mount on energy companies to reduce their carbon footprints, this project stands out as a dual-purpose venture.

By capturing and mitigating greenhouse gases (GHG) and turning them into viable energy production, Mari Energies is effectively monetizing environmental compliance.

This move aligns Mari Energies with global ESG (Environmental, Social, and Governance) trends, transforming potential emissions liabilities into a structured, revenue-generating energy asset.

In an official corporate filing to the Pakistan Stock Exchange (PSX), Mari Energies confirmed that its members passed two critical special resolutions under Section 199 of the Companies Act, 2017.

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