Karachi: The Naveena Group has finalised a financial closure agreemnt for its 50MW wind power project in Jhimpir, Thatta, Sindh, a news source reported. As per officials, the initiative is expected to be completed at a cost of USD 63.9 million, and would provide clean and green energy to the locals.
The rate of US cents 4.7154/kwh has been decided for consumers. It is scheduled to operationalise within a timeframe of two years – by the end of 2021 – according to the Naveena Group management.
The group has also communicated the commencement of their steel production efforts. Recently, it established steel melting and re-rolling mill at Port Qasim in Karchi; with a production capacity of 300,000 tonnes per annum.
The Naveena Steel Mills (Pvt) Ltd, as this facility is to be named, is expected to produce steel bars. This project management plans to operationalise this production plant, during the first quarter of next year (2020).
