Pace Barka Properties enters JV to Rs5.5bn waste management contract

Pace Barka Properties Limited, a 52% subsidiary of Pace (Pakistan) Limited, has entered a joint venture with M/s Ever Green Water Valley (Pvt.) Limited and M/s Initiative (Pvt.) Limited to execute a Rs5.529 billion waste management contract, according to a stock filing on Thursday. 

The partnership was secured for a four-year period under the Lahore Waste Management Company (LWMC) for Tehsil Ferozwala, District Sheikhupura.

The joint venture sees Pace Barka holding a 25% share in the agreement, aiming to ensure efficient waste management services in the region. 

The announcement, made under Sections 96 and 131 of the Securities Act, 2015, highlights the company’s efforts to strengthen its portfolio in collaboration with public and private entities.