Lahore: In a notification sent to the bourse on Thursday, Maple Leaf Cement Factory Limited announced the commencement of operations of its 40MW coal-fired power plant by Maple Leaf Power Limited, a wholly owned subsidiary of the former.
The notification read that it will help the company meets its power requirements and add another reliable source of uninterrupted power supply which would contribute in enormous savings in power cost. It will help in improving its margins and reduce dependence of electricity from national grid.
Maple Leaf Cement was incorporated in April 1960 and the company is listed on the Pakistan Stock Exchange (PSX). It is a subsidiary of Kohinoor Textiles Limited. MLCF is in the business of producing and selling cement.
At the time of filing this report, MLCF’s shares were trading at Rs71.50, down Rs1.64 from its close on Wednesday. And KSE-100 index was trading at 40,407.61 points, down 96.07 points in the first hour of trading.