Gul Ahmed approves 43.75-acre land acquisition, wind and solar projects

Gul Ahmed Textile Mills Limited has approved the proposed acquisition of five industrial plots covering 43.75 acres in Nooriabad, Sindh, alongside investments in wind, solar and battery storage projects.

The textile manufacturer disclosed the decisions to the Pakistan Stock Exchange (PSX) on Monday, following a board meeting held on October 24, 2026.

The proposed land purchases are subject to due diligence and the completion of necessary corporate, regulatory and legal formalities.

What has Gul Ahmed approved?

The company plans to acquire five additional plots at Sindh Industrial Trading Estates Limited (SITE) in Nooriabad, Jamshoro district, while expanding its renewable energy capacity.

The board approved the installation of a 7.5-megawatt (MW) wind turbine, a solar power plant of up to 6 MW and a battery energy storage system with a capacity of 20 megawatt-hours (MWh).

The proposed land acquisitions comprise:

• Plot B-80A: 12 acres
• Plot B-153: 18 acres
• Plot B-236: 4 acres
• Plot A-473: 8 acres
• Plot B-268: 1.75 acres

The acquisition of Plot B-80A also includes the building, allied equipment, fittings and associated assets.

Together, the five plots cover 43.75 acres.

Wind, solar and battery investments

The approved wind project involves a 7.5 MW turbine supplied by Goldwind through Orient Energy Systems (Private) Limited.

The solar power plant will have a capacity of up to 6 MW, using panels from JinkoSolar Holding Co. Ltd., with local works to be undertaken by A2Z Energy Systems (Private) Limited.

The company also approved a 20 MWh battery energy storage system with a 0.5C rating, supplied by Sungrow Power Supply Co. Ltd. through Orient Energy Systems.

The wind and solar installations would provide a combined generation capacity of up to 13.5 MW, while the battery system would allow electricity to be stored for later use.

Earlier land acquisition completed

Separately, Gul Ahmed confirmed that it had completed the acquisition of Plot A-44 at SITE Nooriabad.

The completed transaction includes the land, building, plant, machinery, allied equipment, fittings and other associated assets. The company had previously disclosed the transaction on November 20, 2025.

Unlike the five newly approved plots, the acquisition of Plot A-44 has already been finalized.

The company's chief executive officer has been authorized to complete the transactions and related formalities independently. Chief Financial Officer Muhammad Kashif Riaz and Company Secretary Salim Ghaffar may also act jointly for that purpose.

Gul Ahmed Textile Mills is a composite textile manufacturer engaged in producing and selling textile products. It also operates a retail business that began in Karachi and has expanded to more than 40 stores nationwide, offering clothing, fashion products and home accessories.