Textile giant Gul Ahmed approves acquisition of 43.75 acres, renewable energy projects
- Acquisition of Plot A-44 at SITE Nooriabad has been completed
Gul Ahmed Textile Mills Limited, one of Pakistan’s largest textile companies, has approved the acquisition of five additional plots spanning 43.75 acres at SITE Nooriabad, along with investments in renewable projects, as the textile manufacturer expands its industrial footprint.
The listed textile giant disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.
The company said its board of directors, at a meeting held on October 24, 2026, approved the acquisition of five plots at Sindh Industrial Trading Estates Limited (SITE), Nooriabad, in Jamshoro district.
The plots include B-80A, measuring 12 acres; B-153, spanning 18 acres; B-236, covering four acres; A-473, measuring eight acres; and B-268, spanning 1.75 acres.
The proposed acquisitions are subject to due diligence and the completion of necessary corporate, regulatory and legal formalities, the company said.
The board also approved the installation of a 7.5-megawatt wind turbine supplied by Goldwind through Orient Energy Systems (Private) Limited.
It also approved a solar power plant with a capacity of up to six megawatts, featuring panels from JinkoSolar Holding Co., Ltd., with local works to be undertaken by A2Z Energy Systems (Private) Limited.
In addition, the company approved a 20-megawatt-hour battery energy storage system (BESS) with a 0.5C rating, to be supplied by Sungrow Power Supply Co., Ltd. through Orient Energy Systems.
Separately, Gul Ahmed said the acquisition of Plot A-44 at SITE Nooriabad, along with the land, building, plant, machinery, allied equipment and other associated assets, had been completed.
GATM is a composite textile mill engaged in the manufacturing and sale of textile products. Besides having a strong presence in the manufacturing sector, the company has a foothold in the retail business too.
The retail business started in Karachi and has expanded to more than 40 stores across the country, offering products ranging from fashion and clothing to home accessories.
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