March 9, 2021 (MLN): The Board of Directors of Ghani Global Holdings Limited, in their meeting held on March 9, 2021, has decided to enter into green energy technology business by way of manufacturing and sale of super capacitors and to provide long term energy storage solutions for Electric Vehicles, Solar & UPS Battery Solutions, Telecom, Micro grid, Locomotives, Industrial Equipment, Energy Harvesting and Green Technology etc. in Pakistan and export to other countries with an estimated cost of Rs. 3,200 million.
Furthermore, the Board decided to enter into JV agreement for setting up of manufacturing facility, sales and marketing of technology solutions in Pakistan along with the JV Partner M/s Kilowatt Labs Inc., New York, USA and having manufacturing facility in Dubai, UAE.
To initially enter into import products/solutions by the Company from UAE plant for sales, marketing and after sales services activities in Pakistan till the completion of the requisite manufacturing facility in Pakistan.
To establish a public limited company with the name of ‘Kilowatt Labs Technologies Limited’, which will initially be a 100% subsidiary of the Company thereafter shareholding structure will be changed in accordance with the terms of JV agreement and financial plan.
Timelines of the project will be communicated to PSX once the JV agreement and Financial Plan is approved by the Board of Directors.
