Attock Petroleum Limited (PSX: APL) is penetrating into the electric vehicle (EV) market by setting up EV charging facilities at its retail outlets.
The company in its annual report for the financial year 2023-24 said this expansion of the EV charging network throughout Pakistan will not only help combat climate change but also align with green business initiatives by reducing the overall carbon footprint.
“The Company is actively working on expanding its DC Fast Electric Vehicle Charging network to Motorway service areas. Furthermore, the Company plans to switch over to OnGrid Solar Systems at retail outlets and other storage terminals. It has successfully installed and commissioned the EV-Charger facility at Islamabad Club and Garrison Filling Station, moreover, EV charging facility at Hassan Petroleum, Blue Area, Islamabad, has been upgraded,” it further said.
APL is also diversifying its revenue stream by entering into the Liquefied Petroleum Gas (LPG) business, with the completion of the LPG storage facility, Rawalpindi expected to be commissioned by the end of year 2024.
The Company is aggressively investing substantial resources in expanding and enhancing its Bulk Oil Storage Terminals nationwide, it added.
The principal activity of the Company is the procurement, storage and marketing of petroleum and related products.
At the time of filing, its scrip at the bourse was Rs. 419.19, up 1.13 percent or Rs. 4.7 with 1,519 shares on Thursday.
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