Jahangir Siddiqui & Company Limited (JSCL) has got its board of directors' nod to invest up to Rs 1 billion in a 35 megawatts solar power project. Approved by JS Group board on Thursday, the long-term equity investment would be made in the power venture to be established in Khairpur District of Sindh.

"The directors have also decided to incorporate a wholly-owned subsidiary for the purpose of investments in power projects and approved an investment of Rs 1000 million in its share capital," said Company Secretary Hasan Shahid.

The proposed wholly-owned subsidiary would make the said equity investment in solar power project through a special purpose vehicle, he said.

Source: The Business Recorder