Tuesday, December 08, 2009
KARACHI: Pakarab Fertilizers has planned to convert its Rs2 billion investment in Fatima Fertilizer Company into a loan and make further investment by way of loan.
According to a communique despatched to the Karachi Stock Exchange on Monday, the company said that an extra ordinary meeting has been convened on December 28 to approve this plan.
The loan will enable Fatima Fertilizers to meet the project cost of its upcoming plant which is expected to cost Rs59.238 billion and scheduled to commence production by end of the current year.
The total authorised investment limit is Rs10 billion inclusive of Rs2 billion investment already made on August 28, 2009 while another Rs2.238 billion will be invested in the form of subordinated loan.
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