GTYR’s board approves 2MW solar project K Solar

In a notification sent to PSX on 02/05/2024, Ghandhara Tyre & Rubber Company Ltd (GTYR) has announced that it signed an agreement with K Solar for rooftop solar Installation on its manufacturing unit.

It is hereby informed that the Board of Directors of Ghandhara Tyre and Rubber Company Limited has accorded approval to the management of the company to sign a term sheet worth K Solar Limited in respect of up to 2MW on build, own and transfer basis on the rooftop of the manufacturing facility of the company. The project is expected to come alive by the first quarter of 2025.

The company’s initiative will play a role in cost savings and underscores our proactive effort to diversify our energy portfolio, enhance operational efficiencies and mitigate long-term energy risks. Furthermore, it enforces our commitment towards sustainability in-line with global best practices.

The shares of GTYR were last trading at Rs. 37.51 today.