Ghani Chemical Approves Rs. 1.86 Billion Bet on Energy and Emissions Venture

Shareholders of Ghani Chemical Industries Limited (GCIL) have approved an investment of up to Rs. 1.86 billion in the associated company GHG Emissions Mitigation Limited (GEM) as part of plans to support a gas mitigation and energy production project.

The approval was granted at the company’s Extraordinary General Meeting on June 2, 2026, in accordance with resolutions submitted to the Pakistan Stock Exchange. Shareholders authorized GCIL to subscribe to 186.298 million right shares of GEM at a face value of Rs. 10 per share, representing a potential investment of approximately Rs. 1.86 billion.

The company also empowered its chief executive officer, executive director, and company secretary to undertake all necessary actions required to execute the investment decision.

In a separate resolution, shareholders approved a Sponsor Support Agreement in favor of Habib Bank Limited and other financiers in connection with financing facilities arranged by GEM. The facilities include a letter of credit facility of up to $38 million and a funded facility of up to PKR 14.4 billion.

According to the resolution, the financing will support GEM’s gas mitigation and energy production facility being developed near the Sachal Gas Processing Complex.

Under the agreement, GCIL will provide sponsor support in proportion to its shareholding in GEM, including contributions toward equity requirements, funding costs, debt service reserve obligations, and other commitments required by project financiers.