LUCK completes installation of 34MW captive solar power plant

MG News | December 30, 2022 at 09:11 AM GMT+05:00

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December 30, 2022 (MLN): Lucky Cement (LUCK) has completed the installation of the 34MW captive solar power plant, at its manufacturing site Pezu, Khyber Pakhtunkhwa within the planned project timelines, a notice issued to PSX on Friday showed.

“The solar power plant has been successfully commissioned and is fully operational with effect from December 29, 2022”, the company added.

Sustainability and adoption of clean energy has remained a cornerstone of LUCK strategy and the installation of the solar power plant is a testament to its commitment for conserving energy and promoting green energy resources.

Further comapny added that investment in renewable energy projects will result in cost savings as well as reduction of country's reliance on imported fuel.

Earlier, LUCK has successfully completed construction and installation work with respect to the Brownfield Expansion of additional line of 3.15 million tons per annum (MTPA) at Pezu, Khyber Pakhtunkhwa.

Besides the cement segment, LUCK's industrial footprint includes power generation, automobiles, chemicals, pharmaceuticals and mobile phone assembling through its subsidiaries.

At the time of writing, the scrip of the company is being traded at Rs452, which is up by Rs5.04 or 1.13% DoD.

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