J.K. Spinning Mills Limited (JKSM), a Pakistani textile firm, plans to boost its green energy capacity and intends to install 7MW additional capacity as part of the company’s strategic initiatives.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“We have already installed 7MW of solar green energy, and negotiations are underway with suppliers for a further 7MW to reduce the energy cost,” read the notice.
The company shared that bank financing for the said investment has already been approved.
There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors.
This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
Pakistan’s bread maker shifts to renewable energy, targets 1MW solar capacity to cut costs
Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source.
Meanwhile, J.K. Spinning informed its stakeholders that it intends to add automatic and state-of-the-art technology to run operations.
“We are adding one automated flat sheet cross hemming unit to optimise the process for automatic movement of fabric to stitch the flat sheet and one automatic pillowcase side-closing unit, totalling Rs161 million.”
The company shared that LCs have been established with banks, and all funding arrangements are intact.
“This will help to increase efficiency, reduce labour cost, improve the consistency and accuracy of work,” it said.
The company shared that its management has also decided to convert 34,224 spindle units to an Open-End Spinning System featuring 6,000 rotors.
“This strategic move will enable the utilisation of Comber-Noil waste, supporting the production of yarns that meet the sustainability requirements of international buyers,” it said.
The commercial production will start in September, it added.
JKSM is a public limited company incorporated in Pakistan on 07 January 1987 under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017). The company is engaged in textile manufacturing, comprising ginning, spinning, stitching, buying, selling yarn, fabrics and other goods.
