CWSM Board approves Rs1.1bn investment in Data Centre project
MG News | April 16, 2025 at 01:42 PM GMT+05:00
April 16, 2025 (MLN): The Board of Chakwal Spinning Mills Limited (PSX: CWSM) has approved and signed a confirmed term sheet for an investment of Rs1.1 billion for the launch of Data Centre and Cloud Operations in Pakistan.
To diversify its business and with the aim of pursuing a new line of operations, the Board of Directors (BOD) has also approved the Business Plan, the company's filing on PSX revealed today.
Additionally, another term sheet amounting to Rs500 million is currently under consideration, and the BOD has authorized the Chairman of the Company to finalize it.
The Board further agreed to proceed in accordance with the provisions of the Companies Act 2017 and relevant rules.
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