Premium textile forms UAE subsidiary

Premium Textile Mills Limited (PSX: PRET) states that its Board of Directors has approved the establishment of a wholly owned subsidiary in the United Arab Emirates.

Premium Textile Mills Limited has approved a $4.15 million investment to install a new 7.5MW wind turbine, strengthening its shift toward clean energy.

The company already operates 20MW of solar capacity and another 7.5MW wind project is underway.
With the new addition, its total wind capacity will reach 15MW, expected to generate 55.2 GWh annually and cut 30,000 metric tons of carbon emissions.

This project will help the company meet around 67% of its energy needs through renewables.