Pace Barka secures JV for Rs5.53bn waste management contract

MG News | November 28, 2024 at 12:28 PM GMT+05:00

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November 28, 2024 (MLN): Pace Barka Properties Limited has entered into a partnership joint venture (JV) with Ever Green Water Valley (Pvt.) Limited and Initiative (Pvt.) Limited for the grant of a Waste Management Service Contract by Lahore Waste Management Company (LWMC) for Tehsil Ferozewala, District Sheikhupura.

The joint venture will last for a period of 4 years and is valued at Rs5.529 billion.

It is important to note that Pace Barka Properties will hold a significant 25% stake in this joint venture.

This development was announced by Pace (Pakistan) Limited (PSX: PACE), which holds a 52% stake in Pace Barka Properties Limited, making it the parent company.

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