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Rawalpindi, The Fauji Cement Company Limited (FCCL) Board of Directors held their 160th meeting on June 28, 2024, where they approved the annual budget for the fiscal year 2024-25 and endorsed significant expansions in the company’s solar and manufacturing capabilities.
During the meeting, the Board agreed upon the annual budget, signaling a strategic roadmap for the upcoming fiscal year. Alongside budgetary approvals, the Board sanctioned an expansion in FCCL’s solar energy capacity. The company is set to increase its captive solar power capacity by 15 megawatts, elevating the total to 67.5 megawatts. This initiative underscores FCCL’s commitment to enhancing sustainable energy solutions within its operations.
Furthering its operational expansion, FCCL’s Board also approved the acquisition of a manufacturing plant for Polypropylene (PP) bags. This acquisition aims to meet the in-house demand for PP bags, essential for packaging and distribution of the company’s cement products.
According to information available from the Pakistan Stock Exchange (PSX), these decisions are expected to bolster FCCL’s infrastructure and operational efficiency, aligning with its long-term growth objectives.
These developments have been communicated to the members of the Exchange to ensure transparency and adherence to regulatory requirements regarding price-sensitive information.