Dawood Lawrencepur to invest Rs103 million in Reon Alpha Pvt Ltd

MG News | October 22, 2018 at 10:16 AM GMT+05:00

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October 22, 2018 (MLN): The Board of Directors of Dawood Lawrencepur Limited in its emergent meeting held on October 19, 2018 has approved investment of Rs. 103,000,000 (Rupees one hundred and three million) in the proposed Right Issue of Reon Alpha Private Limited (wholly owned subsidiary company) comprising of 10,300,000 shares of Rs. 10/- (Rupees ten each)

Reon Alpha Private Limited has signed a 15-year Energy Purchase Agreement with Sindh Engro Coal Mining Company to supply energy from a 5 MW solar powered plant. Reon Alpha requires investment from the company in order to fulfill 25% of funding requirement for the project through equity.

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