Tag: Investment

Army Chief’s direction intervention sought for removal of bureaucratic hurdles in way of new wind, solar projects involving $600M foreign investment

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solar-wind

The prospective foreign investors keen for the past couple of years to build new wind and solar power projects in the country have sought direct intervention from the Chief of Army Staff for immediate removal of bureaucratic hurdles in the way of phenomenally increasing the clean energy generation capacity of Pakistan.The Pakistan Foreign Renewable Energy Investors Forum (PFREF) has urged the Army Chief to intervene in this matter to ensure that there shouldn’t be any bureaucratic hurdle at the level of the Special Investment Facilitation Council (SFIC) for approving the…

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$10b Saudi investment to arrive soon

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Saudi-investment

Financing will go to oil refinery to be set up by Aramco either in Hub or Gwadar KARACHI, PAKISTAN: Caretaker Federal Minister for Energy, Power and Petroleum Mohammad Ali has said that Pakistan is actively engaged with Saudi Arabia for potential investment of around $10 billion in the oil refining sector, believing their efforts will bear fruit in a couple of months. Talking to media on sidelines of “The Future Summit – The Big Picture” on Wednesday, the minister dismissed the impression that there were mere talks while nothing concrete…

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K-Electric seeks $2bn from Shanghai Electric for stake sale

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k-electric

KARACHI: K-Electric (KE), Pakistan’s only private sector power utility, said on Wednesday it wants Shanghai Electric Power (SEP) to raise its offer to buy a majority stake in the company to $2 billion, citing improved performance and growth prospects. The SEP had previously offered to acquire 66.40 percent shares in KE for $1.77 billion, but the deal has been delayed for years due to regulatory hurdles and legal disputes. Shan Ashary, Chief Investment Officer (CIO) of Al-Jomaih and a director at KE, told a group of journalists in Karachi that…

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