Latest news with #ArifHabibGroup
Business Recorder
26-05-2025
- Business
- Business Recorder
Motorways in Sindh top priority of federal govt: Aleem
KARACHI: Federal Minister for Communications Abdul Aleem Khan has said that the construction of motorways in Sindh is a top priority of the government, and the M-6 and M-10 motorways will be launched simultaneously, as the M-6 is Pakistan's lifeline, which was unfortunately neglected by previous governments. Talking to the media along with Arif Habib chairman Arif Habib Group here on Monday, he said that a motorway will be incomplete in its utility without being connected to the Ports and both the M-6 and M-10 will be linked to the Karachi Port to ensure their full functionality. Highlighting the significance of the M-6 Project, the minister informed that it is a nearly Rs 400 billion initiative comprising upon five sections, each approximately kilometres long. 'There is no better opportunity for investment than in this project,' he pointed out. Aleem Khan said that financing has already been secured for two sections while discussions for the remaining three are ongoing. 'We will finalise the feasibility report and present it to the Prime Minister within the next 15 days,' he added. The federal minister further said that the motorways from Karachi to Hyderabad and from Hyderabad to Sukkur will be completed as early as possible while work on the N-25 Highway from Karachi to Quetta is also scheduled to begin later this year. 'Karachi's challenges are not just provincial, they are national issues and we will address them on a priority,' he emphasized. Replying to the questions, Khan stressed that his focus is on delivering progress rather than engaging in blame games. 'My effort is to prioritise the launch of motorway projects in Sindh; similarly, we are committed to completing the Kaghan-Naran motorway,' he said. He informed that the National Highway Authority (NHA) has recorded unprecedented growth in revenue over the current fiscal year and attaining the target from Rs 64 billion to Rs 110 billion while this additional income will be utilised into improving road infrastructure and constructing new motorways. To ensure road safety, he said that strict measures are being implemented against dangerous driving on motorways. 'Drivers exceeding 150 km/h are not only being fined but also facing FIRs,' he added. Mandatory use of M-Tags is helping reduce long queues, and staffing shortages in motorway police are being addressed,' Aleem Khan said. Regarding his visit to Karachi, the minister mentioned that he, along with the Federal Secretary Communications and Chairman of the NHA held meeting with the Chief Minister of Sindh and assured him of full support from his ministry. He also held a highly productive meeting with the business community led by Arif Habib, where investors expressed interest in participating in the development of Sindh's motorways and road networks. Additionally, he noted that a joint team is being formed to focus on additional options for the Lyari Expressway in Karachi, including improvements to interchanges and exploration of further development projects. Copyright Business Recorder, 2025
Business Recorder
21-05-2025
- Business
- Business Recorder
Going green: Power Cement to install 7.5MW wind plant
In a significant step toward sustainability, Power Cement Limited (POWER) has announced plans to set up a 7.5MW wind power project, which is expected to go live by FY2026. The listed cement maker shared the development during its corporate briefing session on Wednesday. The project will utilise Goldwind turbine with a capacity of 7,500 kW and will follow a rental model, similar to the company's existing solar agreements. 'Expected completion is targeted within FY2026,' the company stated. Upon the project's completion, wind energy would account for 11% of Power Cement's energy mix. The company already generates 34% and 6% of its energy from WHRS (Waste Heat Recovery System) and solar, respectively. Whereas, the remaining 60% comes from HESCO. Founded in 1981, Power Cement Limited stands as the flagship Company of Arif Habib Group, a prominent financial and industrial conglomerate. The factory site of the company is located at Motorway M-9, Nooriabad, Sindh. The company was previously known as Al-Abbas Cement Limited until its acquisition in 2010 by the Arif Habib Group. Presently, the company has three manufacturing lines, with a cumulative nameplate clinker production capacity of 10,700 TPD, with total annual capacity of 3.21 million tons. The company is one of the largest players in Pakistan's South zone with a total annual cement production capacity of 3.37 million tons, 11,235 TPD. The announcement aligns with a broader industry shift in Pakistan toward renewable energy as companies look to cut energy costs and reduce reliance on the national grid. Last month, Thatta Cement Company Limited completed and commissioned a 4.8MW wind power project at its plant in Thatta, Sindh. Earlier this month, Ali Asghar Textile Mills Limited (AATM), a former textile unit turned logistic service provider, informed it was developing a 1,00KW (1MW) solar power project, which has now entered the execution phase. In March, Tariq Corporation Limited announced plans to set up a 200KW solar power system at its facility.
Arab News
10-04-2025
- Business
- Arab News
Pakistan markets rebound as Trump makes tariff U-turn
KARACHI: Pakistan's stock market bounced back on Thursday after US President Donald Trump announced a 90-day delay in tariffs, analysts said. The KSE-100 Index surged by over 2,036 points (1.75 percent), following the announcement. On Wednesday (April 9), the KSE-100 Index had dropped 5 percent, leading to a 45-minute halt in trading. Zafar Moti, CEO of Zafar Moti Capital Securities, said the decision helped calm investors, while Ahsan Mehanti, Managing Director and CEO of Arif Habib Group, said the pause in tariffs was seen as good news by investors. 'The Pakistan Stock Exchange closed on a positive note,' Topline Securities said in its daily market review. 'This upward trajectory was fueled by a strong rebound in US and other international equity markets, with the index rallying as much as 3,331 points during intraday trading.'
