CHCC winds up Madian Hydro Power Limited

MG News | October 26, 2022 at 03:26 PM GMT+05:00

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October 26, 2022 (MLN): The Board of Directors of Cherat Cement Company Limited (PSX: CHCC) on Wednesday approved the winding-up of Madian Hydro Power Limited (MHPL), an associated company of CHCC.

MHPL was formed as a joint venture between CHCC and Shirazi Investments Pvt Limited to build, operate and maintain a Hydro Power Generation plant at Madian, Swat.

MHPL was engaged in international consultants to develop the feasibility study of the project which was approved by the Private Power and Infrastructure Board (PPIB) in 2008.

However, due to the deterioration in the law-and-order situation in Swat and adjoining areas, the construction work on the project could not be undertaken.

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