Latest news with #KAPCO
Business Recorder
16-07-2025
- Business
- Business Recorder
KAPCO approves Rs800mn sale of gas turbines to local steel maker
Kot Addu Power Company Limited (KAPCO) has received shareholder approval to sell its Gas Turbines GT-3 and GT-4, along with associated components, to Rizwan Steel (Private) Limited for Rs800 million. The power producer disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'The consent of shareholders of Kot Addu Power Company Limited be and is hereby accorded to the disposal of plant and machinery of the company comprising Lot-1 (Gas Turbines (GT-3 and GT-4)) along with associated parts and components to Rizwan Steel (Private) Limited at a price of Rs800 million, subject to requisite approval(s) as per details given in statement of material facts,' read the notice. KAPCO informed that Shahab Qader Khan, Chief Executive and/or Adolf Anthony Rath, company secretary, are authorised to dispose of the plant and machinery and to act on behalf of the company 'in doing and performing all acts, matters, things and deeds to implement the disposal and the transaction contemplated by it'. Last month, KAPCO signed a Tri-Partite Power Purchase Agreement (TPPA) along with the schedules with the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) and National Grid Company of Pakistan Limited to govern electricity sales from KAPCO's power plant. Incorporated in Pakistan on April 25, 1996, as a public limited company, KAPCO's principal activities are to own, operate and maintain a multi-fuel fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, Punjab. The company sell the electricity produced to a single customer, the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).
Business Recorder
05-06-2025
- Business
- Business Recorder
KAPCO signs TPPA with CPPA-G, NGCPL
KARACHI: Kot Addu Power Company Limited (KAPCO) has signed a Tri-Partite Power Purchase Agreement (TPPA) with Central Power Purchasing Agency (CPPA-G) and National Grid Company of Pakistan Limited (NGCPL). The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. Last month, on May 20th, The National Electric Power Regulatory Authority (NEPRA) approved the tripartite agreement, governing electricity sales from KAPCO's 1,600 MW power plant in Kot Addu, Punjab. According to KAPCO's notice, NEPRA granted approval of the TPPA on May 19, 2025, subject to certain conditions being met. The conditions include conducting an Initial Capacity Test (ICT) and Heat Rate Test (HRT) to benchmark efficiency, with an independent engineer evaluating and determining Simple Cycle Efficiency/Heat Rate numbers. Once these requirements are fulfilled, the TPPA will become effective for the operational phase of the power plant. Meanwhile, NEPRA had granted a provisional tariff to KAPCO on a Take-or-Pay basis last month after a public hearing on April 8, 2025. Incorporated in 1996, KAPCO operates a multi-fuel fired power station with the capacity of 1,600 MW, selling electricity to the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA). Copyright Business Recorder, 2025
Business Recorder
04-06-2025
- Business
- Business Recorder
KAPCO signs tripartite power agreement
The Kot Addu Power Company Limited (KAPCO) has signed a Tri-Partite Power Purchase Agreement (TPPA) along with the schedules with the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) and National Grid Company of Pakistan Limited. KAPCO shared this development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. Last month, the National Electric Power Regulatory Authority (NEPRA) approved a tripartite agreement between CPPA-G, KAPCO and National Grid Company of Pakistan Limited to govern electricity sales from KAPCO's power plant. Incorporated in Pakistan on April 25, 1996, as a public limited company, KAPCO's principal activities are to own, operate and maintain a multi-fuel fired power station with fifteen generating units with a nameplate capacity of 1,600 MW in Kot Addu, Punjab. The company sell the electricity produced to a single customer, the Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).
Business Recorder
03-06-2025
- Business
- Business Recorder
Fauji Foundation, KAPCO eye majority stake in ACPL
Fauji Foundation and Kot Addu Power Company Limited (KAPCO) have formally expressed their intention to jointly acquire a majority shareholding and joint control of Attock Cement Pakistan Limited (ACPL). KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The Board of Directors of KAPCO has approved the acquisition of shares and joint control of Attock Cement Pakistan Limited (ACPL) by the company and Fauji Foundation (FF) under the Securities Act, 2015 (the Act) and Listed Companies Regulations, 2017,' read the notice. It added that the acquisition is subject to the completion of necessary corporate and regulatory formalities. The company has appointed Integrated Equities Limited as Manager to the Offer (MTO) and sanctioned the commencement of due diligence and negotiation of acquisition terms. As per the public announcement of intention (PAI) submitted to the bourse, the acquirers intend to purchase 84.06% shareholding (Fauji Foundation 42.03%, KAPCO 42.03%) of APCL. The development comes as Pharaon Investment Group Ltd., a Lebanon-based company, is exploring a strategic sale of its stake in Attock Cement Pakistan Ltd. (ACPL). The potential sale has attracted initial interest from several major players in the cement and energy sectors, including Cherat Cement, Bestway Group, KAPCO and Fauji Cement, reported Bloomberg, citing people familiar with the matter Earlier, Pharaon Investment Group informed its stakeholders that certain prospective investors had expressed interest in acquiring its shareholding in ACPL and also indicated their intention to submit binding offers. PIGL shared that Standard Chartered Bank has been appointed as a financial advisor for the divestment process. Attock Cement Pakistan Ltd was incorporated in Pakistan on October 14, 1981, as a public limited company. The company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon. Its main business activity is the manufacturing and sale of cement.
Business Recorder
03-06-2025
- Business
- Business Recorder
Fauji Foundation, KAPCO eye majority stake in Attock Cement
Fauji Foundation and Kot Addu Power Company Limited (KAPCO) have formally expressed their intention to jointly acquire a majority shareholding and joint control of Attock Cement Pakistan Limited (ACPL). KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The Board of Directors of KAPCO has approved the acquisition of shares and joint control of Attock Cement Pakistan Limited (ACPL) by the company and Fauji Foundation (FF) under the Securities Act, 2015 (the Act) and Listed Companies Regulations, 2017,' read the notice. It added that the acquisition is subject to the completion of necessary corporate and regulatory formalities. The company has appointed Integrated Equities Limited as Manager to the Offer (MTO) and sanctioned the commencement of due diligence and negotiation of acquisition terms. As per the public announcement of intention (PAI) submitted to the bourse, the acquirers intend to purchase 84.06% shareholding (Fauji Foundation 42.03%, KAPCO 42.03%) of APCL. The development comes as Pharaon Investment Group Ltd., a Lebanon-based company, explores a strategic sale of its stake in Attock Cement Pakistan Ltd. (ACPL), concerning its investment in the Pakistani cement business. The sale has attracted initial interest from several major players in the cement and energy sectors, including Cherat Cement, Bestway Group, KAPCO and Fauji Cement, reported Bloomberg, citing people familiar with the matter Earlier, Pharaon Investment Group informed its stakeholders that certain prospective investors had expressed interest in acquiring its shareholding in ACPL and also indicated their intention to submit binding offers. PIGL shared that Standard Chartered Bank has been appointed as a financial advisor for the divestment process. Attock Cement Pakistan Ltd was incorporated in Pakistan on October 14, 1981, as a public limited company. The company is a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon. Its main business activity is the manufacturing and sale of cement.
