Hubco raises shareholding
The Hub Power Company has increased its holding in China Power Hub Power Generation Company (Pvt.) Ltd from 26 percent to 47.R percent through its wholly-owned subsidiary Hub Power Holding Ltd.
China Power Hub Generation Company is a joint venture of the Hub Power Company Limited (Hubco) and China Power International Holding Limited (CPIHL) formed to set up 2x660 MW coal power plant.
To recall, initially the shareholding of HUBC in CPHGC was 49 percent, which was later decreased to 26 percent with an option to increase its holding before commercial operation date.
The total equity outlay for the project is estimated at $3R0 million where the company has the capacity to finance the equity portion through internal cash; however, clarity in this regard from the company is still awaited.