Haqqani Pulp and Paper Mills approves Tk 3.32 crore investment to modernise operations

Haqqani Pulp and Paper Mills PLC has approved investments totaling Tk 3.32 crore to expand production capacity and improve energy efficiency at its manufacturing facility.

According to disclosures published on the Dhaka stock exchanges' websites on Sunday, the company's board of directors granted in-principle approval during a meeting held on Saturday to install a rooftop solar power system with a capacity of 615 kilowatt-peak (kWp) DC and 500 kW AC. The project is estimated to cost Tk 2.60 crore and will be financed through the company's internal funds. Implementation will take place in phases, subject to operational requirements and the availability of funds.

The board also approved an investment of approximately Tk 72 lakh to purchase a double-helix pulp press machine for the paper production unit. The expenditure will also be funded from internal resources.

The new machine will replace the existing pulp press and is expected to improve production efficiency, enhance pulp dewatering capacity and fibre recovery, and reduce maintenance costs.

Mohammad Musa, company secretary of Haqqani Pulp and Paper Mills PLC, said the company is gradually installing the 500 kW AC rooftop solar power system at its factory to lower electricity costs and support uninterrupted operations.

Haqqani Pulp and Paper Mills' shares closed at Tk 81.70 on Sunday, up from the previous closing price of Tk 80.60. The company's paid-up capital currently stands at Tk 1,531.40 million.