Hubco raises share­hold­ing

Enterprise - - National news -

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.

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