Amreli Steels Ltd. collaborates with Chinese company for Electricity Transmission project worth PKR 1.04 billion

MG News | November 20, 2017 at 10:52 AM GMT+05:00

0:00

According to a release addressed to PSX, Amreli Steels Ltd. announced that it will take 65% equity stake in a joint stake company with Qingdao Huijintang Power Equipment Co. Ltd., a Shanghai Stock Exchange listed company in China which is currently carrying out research, design, manufacture and distribution of transmission lines in and out of China.

The company will take the opportunity of the increase in Electric Generation and Power Supply in Pakistan and seeks to invest 65% in a project worth PKR 1.040 billion which will focus on transmission line development across Pakistan.

Both the parties have agreed to establish a joint venture company in Pakistan which will have the objective of production and sales of electrical transmission towers and metal structural products.

The company release can be accessed here.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,642.28 291.89M	-0.25% -419.92
ALLSHR	101,179.88 772.85M	-0.01% -5.31
KSE30	51,000.17 132.20M	-0.41% -209.51
KMI30	240,508.51 109.07M	-0.51% -1236.96
KMIALLSHR	65,986.51 342.54M	-0.22% -146.91
BKTi	45,434.36 43.62M	0.11% 51.23
OGTi	32,945.97 16.91M	-1.30% -432.38

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	93,315.00	93,385.00 91,405.00	1860.00 2.03%
BRENT CRUDE	62.31	62.57 62.27	-0.14 -0.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.10 1.22%
ROTTERDAM COAL MONTHLY	99.40	99.55 96.45	1.85 1.90%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	58.51	58.73 58.48	-0.13 -0.22%
SUGAR #11 WORLD	14.97	15.07 14.72	0.21 1.42%