Sep , 19 2017
Closing Rate 115.91

Growth Aspirations

The Company has established wholly owned subsidiaries for its future growth initiatives. Hub Power Holdings Limited (HPHL) has been incorporated to invest in the imported coal based 2x660 MW power project, China Power Hub Generation Company Pvt. Ltd. (CPHGCL) and future expansion initiatives, while Hub Power Services Limited (HPSL) has been incorporated to manage O&M of its existing power assets, its upcoming coal project and explore O&M business opportunities onshore and offshore. Another subsidiary Narowal Energy Limited has been incorporated to take over the assets and liabilities of Narowal plant post its demerger under the Companies Ordinance.

The Company also has established a wholly-owned subsidiary Thar Energy Limited (TEL) to set up a 1 x 330 MW mine mouth power plant at Thar coal block II. The Company has offered 30 per cent strategic shares to Fauji Fertiliser Company Limited (FFC) in Thar Energy Limited (TEL).

The Company is also investing USD 20 million in Sindh Engro Coal Mining Company Limited (SECMC), a joint venture between Engro, Thal Limited, HBL, CMEC, Hubco and Government of Sindh, to develop a coal mine at Thar which has the seventh largest reserve of coal in the world.