Hakkani Pulp & Paper Mills PLC will invest Tk3.32 crore in a rooftop solar power system and new pulp processing equipment as the listed paper manufacturer moves to improve energy efficiency, modernise production and lower operating costs.
The company’s board approved the investments in principle at a meeting on 1 August, with both projects to be financed entirely from internal resources, the company said on Sunday.
The larger investment involves installing and commissioning a 615 KWP DC (500 KW AC) rooftop solar power system at the factory at a cost of Tk2.60 crore, including installation expenses.
Hakkani Pulp said the project would reduce dependence on grid electricity and support its long-term sustainable manufacturing strategy. The installation will be implemented in phases, subject to operational requirements and fund availability.
The board also approved the purchase of an FTC500 Twin Screw Press, or Double Helix Crowded Pulp Machine, for Tk72 lakh, including installation costs.
The new machine will replace ageing equipment and is expected to improve pulp dewatering, increase fibre recovery, enhance production efficiency, reduce maintenance costs and strengthen overall operational performance, the company said.
The company expects the investments to support long-term growth and create sustainable value for shareholders.
Hakkani Pulp shares, with a face value of Tk10 each, rose 1.36 per cent to close at Tk81.70 on the Dhaka Stock Exchange on Sunday.
