Thatta Cement Company Limited has approved an investment of seed capital for the formation and registration of a legal entity in Sri Lanka and obtaining necessary regulatory approvals and licenses for a cement grinding, storing and packing plant in Sri Lanka. The approval is subject to regulatory requirements in Pakistan and Sri Lanka.
The decision was taken by the board of directors in a meeting held at the Arif Habib Centre here on May 31. "The board of directors has decided to renounce the right offer of 1.8 million shares of Rs 100 each in Thatta Power Limited, totalling Rs 180 million," a handout sent to Karachi Stock Exchange (KSE) said on Friday.
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