AIRLINK 171.00 Decreased By ▼ -2.15 (-1.24%)
BOP 11.19 Increased By ▲ 0.54 (5.07%)
CNERGY 8.45 Decreased By ▼ -0.07 (-0.82%)
CPHL 100.17 Increased By ▲ 2.71 (2.78%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.25 Decreased By ▼ -0.17 (-1.1%)
FLYNG 27.79 Decreased By ▼ -0.34 (-1.21%)
HUBC 138.00 Decreased By ▼ -0.91 (-0.66%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.56 Increased By ▲ 0.02 (0.44%)
KOSM 5.40 Decreased By ▼ -0.15 (-2.7%)
MLCF 62.50 Increased By ▲ 0.24 (0.39%)
OGDC 213.15 Decreased By ▼ -1.60 (-0.75%)
PACE 5.43 Decreased By ▼ -0.12 (-2.16%)
PAEL 46.99 Increased By ▲ 2.13 (4.75%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.40 Decreased By ▼ -0.34 (-3.17%)
POWER 12.30 Increased By ▲ 0.04 (0.33%)
PPL 169.25 Decreased By ▼ -4.62 (-2.66%)
PRL 35.80 Decreased By ▼ -0.42 (-1.16%)
PTC 23.15 Decreased By ▼ -0.41 (-1.74%)
SEARL 96.30 Increased By ▲ 0.99 (1.04%)
SSGC 39.65 Increased By ▲ 0.52 (1.33%)
SYM 13.88 Decreased By ▼ -0.14 (-1%)
TELE 7.18 Decreased By ▼ -0.05 (-0.69%)
TPLP 10.01 Decreased By ▼ -0.28 (-2.72%)
TRG 63.38 Decreased By ▼ -1.30 (-2.01%)
WAVESAPP 10.06 Increased By ▲ 0.02 (0.2%)
WTL 1.32 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.67 Decreased By ▼ -0.03 (-0.81%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)

Sapphire Fibres Limited (SFL), one of Pakistan’s largest textile manufacturer, has entered into key agreements with companies in the UAE and Netherlands to expand its footprint in the power sector.

The listed company, a manufacturer of yarn, fabric and garments, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“Sapphire Fibres Limited has entered into an agreement with UPLHC I Limited and UPLHC II Limited; both companies incorporated in United Arab Emirates (UAE), to acquire 50% shares of UCH Power (Private) Limited which is fully owned by UPLHC I Limited and UPLHC II Limited,” read the notice.

The informed that its consortium partner had signed similar agreement to acquire the remaining 50% shares of UCH Power (Private) Limited.

Sapphire Fibres Limited

UCH Power Limited is a 586MW gas-based power plant located in Dera Murad Jamali, Balochistan.

Similarly, SFL had also entered into an agreement with International Power UCH Holdings B.V, a company incorporated in the Netherlands, to acquire 50% shares of UCH-II Power (Private) Limited, which is fully owned by International Power UCH Holdings B.V.

“Our consortium partner has signed similar agreement to acquire remaining 50 % shares of UCH-II Power (Private) Limited,” read the notice

UCH-II Power (Pvt) Ltd is a 404 MW gas-based power plant located in Dera Murad Jamali, Balochistan.

Meanwhile, SFL in its notice informed that the completion of the proposed transactions contemplated in the agreements is subject to the satisfaction of conditions stipulated in the said agreements and receipt of requisite approvals.

SFL, a part of the Sapphire Group, manufactures and sells yarn, fabric and garments at its three production plants, two of which are located in Sheikhupura and one in Lahore.

Comments

Comments are closed.

ali Jul 15, 2024 01:02pm
Imported gas power plants
thumb_up Recommended (0)
test Jul 15, 2024 04:28pm
Everything related to oil and gas and energy and eletricity is kickbacks and elite control. Only hydropower, nuclear power, wind power & solar power are good. We mut use coal to save import of energy.
thumb_up Recommended (0)