ICD supports Power Cement Limited’s green initiative to substitute coal with waste and biomass

Jeddah, Kingdom of Saudi Arabia - The Islamic Corporation for the Development of the Private Sector (ICD) signed an MoU with Power Cement Limited (PCL) on May 12th 2023 during the 2023 IsDB Annual Meetings held in Jeddah, at the King Abdullah Congress Center, Ritz Carlton Hotel, Jeddah.

Under the terms of the MOU, ICD will provide financial and technical support to Power Cement Limited for its Alternative Fuel Program. The signing ceremony was attended by [Eng. Hani Sonbol and Dr. Mohammed Alyami from ICD and Mr. Kashif Habib and Mr. Ahsan Anis from Power Cement].

Speaking at the signing ceremony, Eng. Hani Sonbol said, "We are pleased to sign this MoU with Power Cement Limited. This partnership will support PCL in substituting 10% of its coal resources with agricultural wastes, municipal waste, industrial wastes, and biomass in order to reduce fossil fuel consumption and minimize CO2 emissions. The Alternative Fuel Program of PCL will also contribute to the development of the private sector in Pakistan. We look forward to working with Power Cement Limited and strengthening our collaboration to achieve shared goals."

Power Cement Limited expressed their gratitude for the partnership and said, "We appreciate the support provided by ICD in our efforts to support PCL’s Alternative Fuel Program. This agreement is an important milestone in our collaboration, and we look forward to working with ICD to achieve our common objectives."[AAA1] 

This MoU demonstrates ICD's commitment to supporting the development of the private sector in Pakistan and contributing to the achievement of the Sustainable Development Goals.