Oct 26, 2026, 8:01 AM
Gul Ahmed completes SITE plot acquisition, approves five additional plots and renewable energy projects
Material DisclosureGul Ahmed Textile Mills announced completion of its acquisition of Plot A-44 at SITE, Nooriabad, and Board approval to acquire five additional plots there, subject to due diligence and required formalities. The Board also approved a 7.5 MW wind turbine, a solar plant of up to 6 MW, and a 20 MWh battery energy storage system. The acquisitions and energy investments are material expansion initiatives, though the further land acquisitions remain conditional.
Key Findings
- The acquisition of Plot A-44, including its land, building, plant, machinery, allied equipment, fittings and appurtenances, has been completed.
- The Board approved acquisition of five additional SITE plots: B-80A (12 acres), B-153 (18 acres), B-236 (4 acres), A-473 (8 acres), and B-268 (1.75 acres).
- The additional plot acquisitions are subject to due diligence and completion of necessary corporate, regulatory and legal formalities.
- Approved renewable energy projects comprise one 7.5 MW wind turbine, a solar power plant of up to 6 MW, and a 20 MWh battery storage system rated at 0.5C.
Disclosure Details
Entities Involved
Gul Ahmed Textile Mills Ltd., Sindh Industrial Trading Estates Ltd. (SITE), Orient Energy Systems (Private) Limited, Goldwind, JinkoSolar Holding Co., Ltd., A2Z Energy Systems (Private) Limited
Approvals Required
Due diligence and completion of necessary corporate, regulatory and legal formalities for the additional plot acquisitions
Impact
Completed acquisition of Plot A-44 and approval for five additional plots expand the company's SITE land footprint; approved wind, solar and battery storage projects add renewable energy capacity.
Risks
The additional plot acquisitions remain subject to due diligence and completion of required corporate, regulatory and legal formalities.
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.