J.K. Spinning Mills to Expand Green Energy Capacity

J.K. Spinning Mills Limited (JKSM), a textile company based in Pakistan, is set to enhance its green energy capabilities. The firm intends to incorporate an additional 7MW of capacity as part of its overarching strategic initiatives.

The publicly traded entity communicated this development in a notification to the Pakistan Stock Exchange (PSX) on Thursday.

“We’ve already established 7MW of solar green energy, and negotiations are currently in progress with vendors for another 7MW to further diminish energy expenses,” the notice stated.

The business revealed that banking institutions have already sanctioned financial backing for the aforementioned investment.

Across Pakistan, there’s an increasing move toward alternative energy solutions, notably solar power, which has gained substantial traction among both residential and commercial consumers.

This growing inclination has prompted authorities to contemplate the ramifications for the national grid and the broader energy landscape, particularly as electricity demand remains relatively static.

Nevertheless, a number of ventures have been undertaken to harness this comparatively economical energy resource.

Simultaneously, J.K. Spinning informed its stakeholders about intentions to incorporate cutting-edge automation into its operational framework.

“We are integrating an automated flat sheet cross hemming unit to streamline fabric movement during flat sheet stitching, along with an automatic pillowcase side-closing unit, with a total investment of Rs161 million.”

The company stated that letters of credit have been secured with banks, and all funding arrangements are secure.

“This will be instrumental in boosting efficiency, lowering labor expenses, and enhancing both consistency and accuracy in our operations,” the firm noted.

The company also announced that management has sanctioned the conversion of 34,224 spindle units to an Open-End Spinning System featuring 6,000 rotors.

“This strategic maneuver will facilitate the utilization of Comber-Noil waste, thereby promoting the creation of yarns that adhere to the sustainability mandates of global purchasers,” it stated.

Production is slated to commence in September, according to the company.

JKSM, established on January 7, 1987, is a public limited company operating under the Companies Act, 2017. It specializes in textile manufacturing activities, encompassing ginning, spinning, stitching, and the trade of yarns and fabrics.