The Naveena Group has announced that it has achieved Financial close with the Government of Pakistan for its 50 MW Wind Power Project in Jhimpir, Thatta Sindh.
The project cost of USD 63.9 million will provide the cheapest electricity to the consumers at a price of just US cents 4.7154/kwh (Rs. 7.32) from a platform of clean and green energy. The project is scheduled to come online by the end of 2021.
Naveena Group is rapidly expanding and is dedicated to the business of progress and sustainability.
The Naveena Group has also entered into Steel production and established a 300,000 TPA (tonnes per annum) steel melting and re-rolling mill at Port Qasim, Karachi, to produce steel rebars, under the name Naveena Steel Mills (Private) Limited. The company aims to begin production by the first quarter of 2020.
Naveena Steels had engaged top of the line European suppliers of machinery and is introducing state of the art metallurgical processes for the first time in Pakistan, enabling the company to produce better quality steel rebars with improved yield giving it a competitive edge over existing setups.