The shareholders of Thatta Cement Company Limited (PSX: THCCL) have approved an investment in Thatta Power (Private) Limited (TPPL) by acquiring a 26.09% equity stake from Rotocast Engineering Company (Private) Limited. The stake consists of 12,500,000 ordinary shares of TPPL.

The approved purchase consideration for the stake is Rs. 137.5 million, in line with the terms determined by the company’s authorized representatives. TPPL is an associate company of THCCL, and the acquisition is expected to strengthen the company’s investment portfolio.

The Chief Executive Officer of THCCL has been authorized to take all necessary steps to implement the resolution and finalize the investment.