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Transactions - JULY 11, 2017

K-Electric to build $1b plant in Pakistan

by Andrea Waitrovich

K-Electric has unveiled plans for the development of a 900-megawatt power project that will significantly increase generation capacity and play a critical role in further supporting the energy needs of Karachi, Pakistan’s largest city.

A statement said that the 900-megawatt Bin Qasim Power Station III will be built at K-Electric’s Bin Qasim site at an estimated cost of $1 billion and includes simultaneous upgrades to associated transmission infrastructure.

Shanghai Electric Power, as a potential incoming investor, expressed complete confidence in the project and fully endorses K-Electric’s vision for Karachi’s transformation.
Shanghai Electric Power issued a public announcement of its intention to acquire up to 66.4 percent of the shares of K-Electric.

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