KARACHI: Maple Leaf Cement (MLCF) on Monday announced that its wholly owned subsidiary company, Maple Leaf Power Limited, had signed an agreement with plant supplier, Sinoma Energy Conservation Limited, China, for setting up a 40MW imported coal-fired power plant at Iskandarabad, district Mianwali.

“The project is expected to start commercial production in May 2017 which is based on highly efficient steam turbine generators, fuel supply and cooling systems. The expected project life is 25 years,” a company filing with the KSE stated.

Already facing acute energy shortage, the increasing urbanisation and industrialisation has further aggravated the demand and supply equation, the company said, adding that the coal-fired power plant would ensure uninterrupted power supply in an increased capacity utilisation environment, while combating increasing energy costs within the country.

Berger Paints

In another notice to investors, Berger Paints Pakistan stated that the company has acquired 49 per cent shares in “3S Pharmaceuticals Private Limited” for Rs39.2 million. The pharma firm is located at 5km, Raiwind Manga Road, Lahore.

Earlier on Nov 30, Berger had conveyed as ‘material information’ in compliance with Section 15D of the Securities & Exchange Ordinance, 1969 and Clause (xx) of the Listing Regulations No 35 of code of corporate governance, that the board of directors had approved investment of Rs39.2m in “Pharmaceuticals Company in Lahore”.

Published in Dawn, December 22nd, 2015