GCIL to set up $5-5.5m worth coal power plant to combat high utility prices

November 24, 2023 (MLN): To address the challenge of high utility prices, the Board of Directors (BoD) of Ghani Chemical Industries Limited (PSX: GCIL) has decided to establish a 7 MW coal power plant at a projected cost of $5- 5.5 million, GCIL’s filing on PSX revealed today.

The plant will utilize a combination of local and imported coal and will be located in Port Qasim or any other nearby suitable location.

Setting up this project is expected to save 45-50% power cost of the Air Separation Unit (ASU) Plants of the company installed at Port Qasim, Karachi.

This will also provide a strong competitive advantage as power is a major element in production costs.

The BoD has further decided to relocate one of the two 110TPD ASU plants installed at Phool Nagar to some suitable location in the Southern Region of the country after the installation and commissioning of the Hattar Plant.

This is aimed at fulfilling the increased demand for medical and industrial gases while also establishing a backup for our other plants in the country.

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