NICL to set up a new 20MW fuel fired Power plant

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In a notification to the PSX, Nimir Industrial Chemicals Limited (PSX: NICL) the Board of Directors meeting was held on August 28, 2020 in which the company has decided to set-up a new 20 MW Solid-fuel fired Power Plant at a total investment of Rs 3.50 Bn to generate electricity at the most economical cost in view of increased power requirement.

Furthermore, the board also approved to invest Rs 750 Mn in setting up production facilities for Home and Personal Care Products.

The board the approved capital investment on Caustic Soda and Power Plants on September 25, 2018. Subsequently, the board approved further enhancement of caustic soda plant capacity in the meeting held on April 24, 2020.