In a bid to go green, one of Pakistan’s leading steel manufacturer Agha Steel Industries Limited (ASIL) has announced to set up a solar power plant to meet its energy needs.
As per details, ASIL has signed a contract with Renewable Power Private Limited for installing a 2.25 megawatt solar power project at its production facility located at Port Qasim Authority, Karachi.
The steel manufacturer informed that Meezan Bank Limited has been nominated as the lead Islamic Bank arranger for the project. “This would be among one of the largest solar power projects installed by a steel manufacturer in Pakistan,” informed the company.
ASIL was of the view that this project will initiate a Green Steel Revolution at the company by helping in sustainability of its energy mix and at the same time reducing the burden on national grid. With an annual capacity of 240,000 Metric Ton per annum, ASIL is one of the largest private sector investments in the steel industry of Pakistan.
The 2.25 megawatt solar power project would reduce the company’s carbon emission and also bring down its production costs through solar power production. The company informed that the power plant be installed on the self-consumption basis will result in a significant drop in the carbon footprint of Agha Steel Industries Limited