Beco Steel Limited (PSX: BECO) has started construction of a 5 megawatt solar power plant as part of its efforts to lower electricity expenses and reduce dependence on grid supply.
In a notice submitted to the Pakistan Stock Exchange, the company confirmed that work on the project has commenced following approval of its expansion plan. The installation contract for the solar panels has already been awarded, while procurement and other necessary arrangements are in progress.
Beco Steel has also applied to the Lahore Electric Supply Company for the required sanctioned load. The company expects both the solar installation and enhancement of the sanctioned load to be completed within approximately four months.
Once operational, the 5 MW solar facility is projected to generate around 600,000 kilowatt hours of electricity per month. This output is expected to deliver monthly savings of about Rs. 16.8 million, amounting to nearly Rs. 201 million annually.
The company said the initiative forms part of its broader strategy to improve energy efficiency and manage rising power costs. It added that further updates will be shared with the market as progress continues.
Beco Steel Limited is a listed steel manufacturer with production facilities in Lahore, supplying construction-grade steel to infrastructure, housing, and industrial projects across Pakistan.
