Pakistani company NetLine plans 180-MW photovoltaic panel manufacturing facility

• NetLine, a power equipment provider regulated by the Zavary family members, is preparing to build a 180-MW photovoltaic panel production facility in Pakistan utilizing modern technology imported from Turkey, neighborhood media report quoting top officials.

Business supervisors told reporters on Monday that NetLine has actually acquired land to construct the factory on the outskirts of Islamabad in 3 phases for near USD 30 million (EUR 28.2 m) in total amount. The third phase will certainly set you back the biggest quantity-- USD 20 million-- as it will include the mining of quartz. It should be fully completed in 2026.

According to brokerage Intermarket Securities, the firm's present appraisal total up to USD 4.5 million. Based upon it, NetLine has actually lately elevated an undisclosed sum in a Series A financing round, with strategies to broaden with offices in the Gulf region.

An initial public offering (IPO) of the business's shares is being considered for 2024.