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FFBL to start Rs6.4b meat, diary business, 118MW power generation plant

FFBL to start Rs6.4b meat, diary business, 118MW power generation plant

KARACHI: The Fauji Fertiliser Bin Qasim Limited (FFBL) is going to start three more business including meat, dairy and electricity generation.

According to FFBL Secretary Brig (R) Muhammad Azam, the company is establishing Fauji Meat Limited to sale meat products in domestic and foreign markets, Fauji Foods Limited for dairy foods, and FFBL Power Company Limited to set up a Rs27b worth 118MW coal-fired generation plant at Port Qasim, Karachi.

The FFBL made this announcement in compliance with ‘disclose of material information’ clause of the Karachi Stock Exchange (KSE) regulations and Securities and Exchange Commission of Pakistan (SECP) Ordinance.

The Fauji Meat Limited, whose project cost is estimated at Rs6.4 billion, would secure the necessary financing in the first half of next year, subject to operations to be started in October-December quarter of 2015, the FFBL said in a filing with the stock exchanges.

The FFBL Power Company Limited, whose project cost is estimated at around Rs27b, has applied to Nepra for the power generation licence. Award of contracts for equipment supply, construction and related arrangements was under way.