Hakkani Pulp to invest in solar power and machinery installation

The board of directors of listed company Hakkani Pulp and Paper Mills PLC has approved two investments totaling Tk 33.2 million to increase production capacity and improve energy efficiency. The information was disclosed on Sunday through the websites of the Dhaka Stock Exchange and the Chittagong Stock Exchange.

At the board meeting held on August 1, the company gave in principle approval for the installation of a rooftop solar power system with a capacity of 615 kilowatt peak DC and 500 kilowatt AC at its factory. The project will cost approximately Tk 26 million and will be financed from the company’s own funds. Once implemented, the project will improve energy efficiency, reduce dependence on the national power grid, and further strengthen sustainable production operations. The project will be implemented in phases based on operational requirements and the availability of funds.

At the same meeting, the board also approved the purchase of a double helix pulp press machine for the company’s paper production unit. Approximately Tk 7.2 million will be invested in the project, which will also be financed from the company’s own funds.

According to the company, the new machine will replace the existing old equipment. It will improve production efficiency, increase pulp dewatering capacity, and enhance fiber recovery. It will also reduce maintenance costs and improve overall operational efficiency, which will play a positive role in the company’s long term growth and value creation for shareholders.