PAKISTAN
Chakwal Spinning Mills Limited has informed the Pakistan Stock Exchange (PSX) of a significant diversification move as part of its new business plan. In a notice issued to the exchange, the company announced that its Board of Directors (BOD) has approved and signed a confirmed term sheet for an investment of Rs. 1.1 billion aimed at launching Data Centre and Cloud Operations in Pakistan.
According to the notice, another potential investment of Rs. 500 million is currently under consideration. The Board has authorized the Chairman of the Company to finalize the second term sheet. The company emphasized that all proceedings will be carried out in compliance with the Companies Act, 2017, and other applicable regulations.
This strategic shift is part of Chakwal Spinning Mills’ broader vision to diversify its business portfolio and explore new avenues of growth in the evolving digital economy.
About Chakwal Spinning Mills Limited
Chakwal Spinning Mills is a Pakistan-based textile company engaged in the manufacturing and sale of yarn. Traditionally focused on the spinning segment of the textile sector, the company is now positioning itself for growth beyond the conventional textile business through investment in technology-driven ventures. – ER
