September 14, 2022 (MLN): Lucky Cement has entered into an agreement with Orient Energy Systems (Pvt) Limited for the supply and installation of a 25.3 MW captive solar power project at its Karachi plant, the company’s notice to PSX showed today.

According to the notice, the estimated cost of the project is Rs3 billion and the company is in the process of establishing LCs for the import of equipment which is subject to receiving approval from the SBP.

The project is expected to be completed in approximately eight months after the establishment of LC.

To recall, on June 13, 2022, LUCK's Board of Directors authorized the management of the company to undertake a feasibility study for a renewable energy project at its plant in Karachi, including wind and solar power.

The company stated that sustainability and adoption of clean energy have remained a cornerstone of its strategy and it was one of the first cement companies to install waste heat recovery (WHR) units at both its plant sites.

The Company's initiatives for investment in renewable energy projects will play a key role in cost savings as well as reduction of the country's reliance on imported fuel, the notice added.

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Posted on:2022-09-14T13:39:04+05:00

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