September 28, 2021 (MLN): Service Fabrics Limited (SERF) is in the process of setting up the import substitute Calcium Carbide project already announced to be set up in the Hattar Economic Zone.

In this respect, Company has awarded the Civil Contract of Calcium Carbide project to an experienced and renowned firm, the company in a notification to Exchange said.

After the selection of the imported portion of the Plant and Machinery, the contract has been signed with the supplier. The Company has received in-principle approval of bank for opening of letter of credits and LC's are expected to be opened shortly after the removal of legal impediments (created due to ceased operating activities since October 2004) to meet the requirements of IRIS (FBR system), the notice added.

Copyright Mettis Link News

27123