Ghani Chemical Industries Limited (PSX: GCIL) shareholders have authorized an investment of up to Rs1.5 billion in Ghani ChemWorld Limited (GCWL), an associated/subsidiary company of GCIL.

The investment shall be made by way of advances and loans, as and when required by GCWL, provided that the return on such advances and loans shall not be less than the rate of 3-month KIBOR +110 basis points.

These advances and loans shall be repayable within a three (3) year period starting from the date of payment, subject to other terms and conditions, the company’s filing on PSX revealed today.

The above-mentioned resolutions shall remain valid for a period of five years starting from the date of approval by the shareholders of GCIL.