Pakistan, April 30 -- The Board of Directors of Mari Petroleum Company Limited (MARI) has approved an investment of up to Rs2.5 billion by the company in its subsidiary, Mari Mining Company (Pvt) Ltd (MMC), by way of equity injection.
MARI, one of Pakistan's largest energy and exploration companies, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
"The investment will be made by MARI in tranches spread over two years by subscribing to the right issue of MMC shares," read the statement.
MMC is a wholly owned subsidiary of MARI, which was established in July 2023 to undertake mineral mining projects in Pakistan and to contribute to the growth of the mineral mining sector of the country.
In a separate no...