SAZEW to install 4-megawatt solar system as part of Rs4.5bn expansion plan

By MG News | Category Equity | September 23, 2024 at 03:54 PM GMT+05:00

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September 23, 2024 (MLN): The Board of Directors of Sazgar Engineering Works Limited (PSX: SAZEW) has approved an expansion plan with an estimated cost of Rs4.50 billion (excluding the cost of land), a part of which includes the installation of a 4-megawatt solar system.

The plan also involves the expansion of the existing paint shop, the construction of new warehousing facilities, and the construction and installation of new manufacturing facilities for the local assembly of New Energy Vehicles, subject to the approval of the relevant government regulatory authorities.

The Board further approved that the plan will be financed from the company’s internal cash resources.

Additionally, the company plans to roll out the CKD model of New Energy Vehicles before December 31, 2025.

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