One of leading Pakistan’s steel manufacturer “Agha Steel Industries Limited” in a bid to green has recently announced to set up their solar power plant in order to meet the energy needs. Meezan Bank is the arranger for this project and the project is expected to be among the largest solar power projects that are installed by any steel manufacturer in Pakistan.
According to the recent report, the company has signed an agreement with the Renewable Power Private Limited in order to install a 2.25 megawatt project of solar power in their production or manufacturing facility that is located in Karachi at Port Qasim.
Agha Steel project view will soon initiate a Green Steel Revolution at company for helping in the sustainability of their energy mix; however, reducing the burden on the main national grid at the same time. It is an effective project to save energy. The annual capacity of around 240,000 Metric Ton per annum is anticipated by the company.
Moreover, this is one of the largest investments in private sector steel industry of Pakistan. ASIL also informed that this project is based on self-consumption and it will help to reduce the overall carbon footprint of the company. The solar power project of 2.25 megawatt would definitely reduce carbon emission by the company and it will lower the production costs by the solar power production.
