International Steels Limited (ISL), a subsidiary of International Industries Limited, has completed and activated a 6.4-megawatt (MW) solar power project at its factory in Karachi.
The listed steel maker shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“We are pleased to inform you that the 6.4MW solar power project at our Karachi factory has been successfully completed and is now fully operational.
“This initiative aligns with International Steels Limited’s long-term sustainability strategy, reinforcing our commitment to energy efficiency, environmental responsibility, and cost optimisation,” read the notice.
Incorporated on 03 September 2007 as a public unlisted company limited, ISL is a subsidiary of International Industries Limited.
The company is engaged in the business of manufacturing cold rolled, galvanised and colour-coated steel coils and sheets.
Pakistan steel exporter sets up subsidiary in Ireland to tap European markets
The company added that the successful implementation of the project is expected to contribute to operational savings while reducing the company’s carbon footprint.
There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.
This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source.
In March, Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, announced plans to set up a 200KW solar power system at its facility.
In February, Olympia Mills Limited announced plans to set up a 500KW off-grid solar power system at its facility.
As per figures presented to the Economic Coordination Committee (ECC), the total installed solar capacity grew from 321MW in 2021 to 4,124MW by December 2024.
American Dollar Exchange Rate