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Nestlé inaugurated a 2.6 megawatt solar power plant at its Sheikhupura Factory

04:22 PM | 10 Jan, 2024
Nestlé inaugurated a 2.6 megawatt solar power plant at its Sheikhupura Factory

Nestlé reaffirms its commitment to Pakistan’s vision for renewable energy by inaugurating a 2.6 MW solar power plant at its Sheikhupura Factory near Lahore as part of its PKR 2 billion investment in renewable energy.

The solar power plant was inaugurated by Nestlé’s senior leadership, including Nestlé Pakistan CEO Jason Avanceña and Nestlé’s Regional Managers Zone Asia Oceania Africa Angelo Giardini and Fabrice Cavallin.

The solar power plant, completed with an investment of PKR 500 million, aims to reduce 1,857 tCO2e of greenhouse gas emissions per year. The inauguration is part of Nestlé Pakistan’s PKR 2 billion investments into renewable energy, including an earlier 2.5MW solar power plant at Kabirwala Factory near Multan and forthcoming biomass boilers at other manufacturing sites in Pakistan.

It is part of its efforts to reduce greenhouse gas emissions, focusing on renewable energy in line with its 2050 Net Zero commitments and the Pakistan government’s UN climate change pledge.

As Nestlé celebrates 35 years of operations in Pakistan, the company is committed to being a force for good throughout its value chain for the country's future by boosting investment in renewable energy and sustainability initiatives.

Nestlé is accelerating the use of renewable energy and announced its commitment to reduce its emissions by 20% (versus a 2018 baseline) by 2025, halve them by 2030 and reach Net Zero by 2050 in line with UN SDGs 13 and 15.

Nestlé is also committed to economic growth by enhancing exports to USD 18 million in 20 countries to earn foreign revenues. It further strengthened its localization journey, reaching over 90% of raw and packaging requirements locally last year.

Nestlé Pakistan, with its four manufacturing sites across the country and a wide range of foods and beverages, is helping bring tasty and balanced diets to millions of Pakistanis. The Company served 2.49 billion fortified servings of value-added nutritious products last year across all occasions and life stages.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 18 May 2024 Forex Rates

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 18 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Bhat THB 7.57 7.72

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