Islamabad April 29 2024: Mari Petroleum Company Limited (“MPCL”) in its meeting held on
April 26, 2024, has approved an investment of upto Rs. 2.5 billion by MPCL in MMC by way of equity injection.
The investment will be made by MPCL in tranches spread over two years by subscribing to the right issue of MMC shares.
MMC is a wholly owned subsidiary of MPCL, which was established in July 2023 to undertake mineral mining projects in Pakistan and to contribute to the growth of the mineral mining sector
of the country.
MPCL’s subsidiary, Mari Mining Company, has been offered two mineral exploration licenses in the Chagai District of Balochistan, for which necessary approvals/formalities are underway.
