PSX:HUBC STOCK INFORMATION
Date
Jul , 19 2017
Closing Rate 117.32
Volume
271,200

The Hub Power Company

The Hub Power Company is the largest Independent Power Producer (IPP) in the Country with a combined power generation capacity of over 1600 MW. Our Hub Plant, situated at Mouza Kund, Hub in Balochistan, is one of the most efficient RFO fired thermal power plants in Pakistan. It supplies reliable and uninterrupted electricity to the National grid. Our Narowal Plant is also an RFO-fired, engine based, combined cycle power station, located at Mouza Poong, Narowal in Punjab. The Company also holds 75% controlling interest in Laraib Energy Limited which owns and operates a run-off-the-river hydel power plant near the New Bong Escape, 8 km downstream of Mangla Dam in Azad Jammu and Kashmir.

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 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 to set up a 330 MW mine mouth power plant at Thar coal block II.

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.

The Hub Power Company is listed on the Pakistan Stock Exchange and its Global Depository Receipts (GDRs) are listed on the Luxembourg Stock Exchange.We are enhancing our operational excellence to become a strategic asset for increasing industry competitiveness and encourage a socially responsive corporate culture. Our social investments are primarily centered on areas near our plant sites with full involvement, contribution and engagement of the community. We contribute 1% of our profit after tax on CSR activities and are managing a series of programs in the field Community Physical Infrastructure, Education, Health and Livelihood Interventions.

Fueled with the vision to continue to be energy leader in Pakistan, we are working to constantly improve our standards and explore sustainable ways of producing energy.

Our commitment to Pakistan has been firm and we continue to align our corporate interests with the needs and strengths of the country. We believe that our projects will enable us to serve in the best interest of the country and provide long-term and sustainable solutions to Pakistan’s energy challenges.