International Steels Limited to Set up Solar Plant at Cost of Rs. 1 Billion

International Steels Limited announced on Monday that Board of Directors of the company has approved to undertake a 6.4 MW Solar Power Project at its Karachi factory. In a notice to the Pakistan Stock Exchange (PSX), the company said the estimated cost of the project is Rs. 1 billion and it is expected to be completed in Q1 2024-2025. It further said that the company’s initiative for investment in solar energy project will play a key role in the cost saving, reduction of country’s reliance on imported fuel and enforce the company’s commitment towards sustainable environment practices, reduction of carbon footprint and move towards Green Energy. The company is subsidiary of International Industries Limited .The primary activity of the company is the business of manufacturing of cold rolled, galvanized and colour coated steel coils and sheets.