Dynea Pakistan Limited, a chemicals manufacturer, has announced plans to develop a 1.1MW captive wind power project at Hub, Balochistan. The development comes as companies in Pakistan are increasingly turning to renewable energy sources to enhance sustainability and reduce dependence on conventional power.
“The Board of Directors of Dynea Pakistan Limited has approved the execution and implementation of a 1.1MW captive Wind Power project at Hub, Baluchistan, subject to regulatory approvals and contracts,” the company disclosed in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
Dynea Pakistan shared that the project is intended to support its long-term sustainability objectives.
“Finalisation of the EPC agreement and arrangements is currently in process,” it added.
The global push for renewable energy is gaining momentum, with the International Renewable Energy Agency (IRENA) reporting that global renewable energy capacity grew by 15.1% last year, reaching 4.5 terawatts, largely led by China.
A similar pattern has been observed in Pakistan, and there has been a growing shift towards alternative energy sources.
Back in April, Thatta Cement Company Limited (THCCL) completed and commissioned a 4.8MW wind power project at its plant in Thatta, Sindh. With the latest expansion, the company enhanced its total installed capacity from renewable energy sources to 9.8MW.
Meanwhile, in a separate notice to the bourse on Thursday, Dynea Pakistan informed that its board, following market evaluation, has approved the commencement of commercial production and sales of a new product category within its resin division, namely Resin Additives & PVA white glue.
“The product will be manufactured using the company’s existing facility and infrastructure and production capacity, without capital expenditure other than enhancements for storage and HSE-related purposes,” it said.
Incorporated in Pakistan as a public limited company on 20 June 1982, Dynea Pakistan Limited is engaged in manufacturing formaldehyde, urea/melamine formaldehyde and moulding compound.
Comments
Comments are closed for this article.