Karachi: Habib Rice Products Ltd (HRPL) plans to implement a new energy project, purchasing and installing a Biomass Cogen Power and Steam Plant at a cost of Rs. 250.00 million, a move approved by its Board of Directors. The installation aligns with Regulation 5.6.1 of the Rule Book of Pakistan Stock Exchange and Sections 96 and 131 of the Securities Act 2015.

The initiative, officially announced today, involves the Board's decision to adopt a more reliable and cost-effective energy solution, transitioning from traditional energy sources to biomass technology. The planned investment aims to enhance the operational efficiencies and environmental footprint of HRPL.

According to information available from the Pakistan Stock Exchange (PSX), the Disclosure Form required by Notification SRO No. 143(1) / 2012 in conjunction with Section 131 of the Securities Act 2015 has been submitted, ensuring compliance and transparency in HRPL’s operations.

This strategic move is categorized under the designated market category of industrial energy solutions, reflecting HRPL's commitment to sustainable and efficient energy use. The company has issued notifications to the Certificate Holders, as mandated by the stock exchange regulations.