Mughal Iron & Steel to enter into Power Purchase Agreement with Mughal Energy Ltd

March 10, 2021 (MLN): The Board of Directors of Mughal Iron & Steel Industries Limited, in their meeting held on March 10, 2021, have considered, and approved the increase in the authorized capital of the Company from Rs. 3 billion to Rs. 5 billion by amending the Memorandum and Articles of Association of the Company.

The Company is also considering entering into Power Purchase Agreement (PPA) with Mughal Energy Limited (associated company due to common directorship) for purchase of electricity.

Moreover, the Board considered the issue of cross corporate guarantee up to PKR 6billion on behalf of Mughal Energy Limited (associated company due to common directorship) to bank(s).

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Posted on: 2021-03-10T13:45:00+05:00

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