Mehran Sugar Mills moves to wind up energy subsidiary

MG News | August 28, 2025 at 10:45 AM GMT+05:00

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August 28, 2025 (MLN): Mehran Sugar Mills Limited (PSX: MRNS) has shared that it has begun winding up its wholly owned subsidiary, Mehran Energy Limited (MEL), according to the company's statement issued today.

MEL, incorporated in 2016 with a paid-up capital of Rs40 million, was established to develop a 26.5 MW bagasse-based high-pressure co-generation project.

However, the project was stalled after the Central Power Purchasing Agency Guarantee (CPPA-G) declined to sign both the Implementation Agreement (IA) and the Power Purchase Agreement (PPA), key requirements for moving the project forward.

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