KOHC to invest Rs600mn in UKPL

MG News | September 26, 2022 at 10:57 AM GMT+05:00

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September 26, 2022 (MLN): Kohat Cement (KOHC) will invest Rs600million in Ultra Kraft Private Ltd (UKPL) to meet its working capital requirements, the company’s stock filings on the stock exchange showed.

KOHC will invest in UKPL for a term of one year from October 29, 2022, at a markup rate of 1.50% above three months KIBOR or at the average borrowing cost of the company.

UKPL is entitled to pay within 15 days of the end of each quarter as per terms and conditions and non-payment of markup within the stipulated time period and a further markup at the rate of 5% per annum on the unpaid amount.

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