8th July, 2014 - Dawood Lawrencepur to set up renewable energy company

Dawood Lawrencepur Limited (DLL) is planning to set up a renewable energy company, said company secretary Hafsa Shamsie on Monday. The board of directors of DLL has decided to set up a wholly-owned subsidiary under the name of Reon Energy Limited, which would solely focus on the renewable energy business. The board also decided to invest Rs. 10 million as equity in the proposed subsidiary. The company already has a renewable energy division called Reon Energy Solutions.