Chinese Company to Make Batteries in Pakistan

Kohinoor Energy Limited (PSX: KOHE) and China's Hebei Juhang Energy Technology Group have signed a nonbinding memorandum of understanding to explore a joint venture for battery assembly and manufacturing in Pakistan.

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• The project is planned in phases, with an initial annual capacity of approximately 50 MWh to 100 MWh.
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• The proposed venture would mark KEL's move into battery assembly and energy storage.

According to a material disclosure submitted to the Pakistan Stock Exchange on October 1, the proposed venture will cover the assembly, manufacturing, marketing and sale of lithium-ion battery packs, battery energy storage systems and related electrical equipment. Kia Stonic 1.0L Turbo Rates Unveiled in Pakistan.

In practice, the project is planned in phases, with an initial annual capacity of approximately 50 MWh to 100 MWh. The partners could afterwards expand capacity to approximately 300 MWh to 500 MWh and eventually to 700 MWh to 1, 000 MWh, subject to market demand and business performance.

Notably, the proposed venture would mark KEL's move into battery assembly and energy storage. The firm at present operates a 124 MW power plant in Lahore and sells the electricity generated there to the Water and Power Development Authority.

Notably, the battery project is aimed at producing lithium-ion battery packs and battery energy storage systems, along with related energy storage products and electrical equipment.

KEL remarked the MoU is nonbinding and that the proposed transaction remains subject to further evaluation, due diligence, applicable approvals and the signing of definitive agreements.

Notably, the firm stated the initial and subsequent production capacity would depend on market demand, business performance and other conditions. It will provide further material disclosures to the PSX as the project progresses. FBR Revises Tax on Aluminum Imports From India.

Pakistan's market for lithium-ion battery packs and battery energy storage systems has been expanding against the backdrop of rising electricity costs, falling solar costs and changes to the net billing framework. Stay Connected with ProPakistani.

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For now, chinese Company to Make Batteries in Pakistan remains the part of the story worth watching, and further updates are likely as more details are confirmed.