Karachi: Mehran Sugar Mills Limited informed Karachi Stock Exchange about the board of directors meeting of the company held on September 08, 2015. The agenda of the meeting to discuss a proposal for investment in a joint Venture Company to establish a renewable energy power project, the Board has agreed in principle to invest approximately Rs. 650 million in the proposed project, the Board has decided to convene an extra ordinary general meeting of the shareholders to seek approval for the said investment.
Mehran Sugar Mill’s core business is sugar manufacturing and is involved both at farm and factory level.
The company has invested in a JV ethanol company, Unicol Limited, which produces 30 Million litres annually by converting molasses into Ethanol. Unicol Limited is one of Pakistan’s leading ethanol producers and exporters.
Mehran Sugar Mill manages 1,000 acres of farming as a separate profit centre with an objective to cultivate high yielding sugar cane varieties, which can be given to our farmers as seed to improve their future plantations.
Mehran Sugar Mill Limited also manage an equity portfolio of Rs 250 Million with emphasis of investing in leading blue chip companies of Pakistan. The objective of the portfolio is to provide a diversified source of income, through dividends and capital gains.