Mari Petroleum approves submission of EOI to acquire majority shares in Two Wind Power Projects

By MG News | October 20, 2020 at 10:40 AM GMT+05:00

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October 20, 2020 (MLN): The Board of Directors of Mari Petroleum Company Limited (MPCL), in its meeting held on October 19, 2020, approved the submission of an expression of interest for the acquisition of majority shares, collectively held by Fauji Foundation and Fauji Fertilizer Bin Qasim Limited, in Foundation Wind Energy-I Limited and Foundation Wind Energy-II Limited.

According to the notification issued to PSX, the abovementioned acquisition is subject to the detailed due diligence of these projects, completion of procedural formalities, and requite approvals from the MPCL Board of Directors and relevant Regulatory Authorities.

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