GATM invest in K Solar Ltd for renewable energy initiative

In a notification sent to the PSX on 21/03/2024. GATM (Gul Ahmed Textiles Ltd) has announced that it signed a term sheet with K Solar Private Ltd to produce 17.1 MW by renewable energy.

The company’s current solar capacity is 0.5MW and 1.4MW is under the installation phase. After this renewable energy initiative the capacity will increase to 19MW. This renewable energy will play role in cost saving and enhance the operational efficiencies. The commitment to achieve the targets and sustainability will be promised.

The shares of GATM were trading at Rs. 19.31 at market close today.