Lucky Cement, one of the largest cement manufacturers in Pakistan, plans to reduce its reliance on imported fuel by installing three renewable projects. The projects include a 28.8 MW wind power project at its Karachi plant, a 6.3 MW solar power project at its Karachi plant, and a 2.5 MW solar power project at its Pezu plant. The wind power project is expected to be completed by the end of FY 2024, while the solar power projects are expected to be completed by Q3 of FY2024. In addition to these new projects, Lucky Cement has recently commissioned 25 MW and 34 MW solar power projects at its Karachi and Pezu plants, respectively. The estimated cost of the upcoming projects is Rs11 billion. By investing in renewable energy, Lucky Cement aims to contribute to a sustainable environment, reduce costs, and decrease the country’s reliance on imported fuel. The company expects its earnings per share to improve and potentially save up to Rs1.261 billion annually. Lucky Cement’s Board of Directors has also authorized the company to consider investing in Lucky Core Ventures, a holding company for future growth projects. This investment is subject to due diligence and regulatory approvals.

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By hassani

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