ISLAMABAD: Shanghai Electric Power has announced to invest 9 billion dollars in K-Electric to enhance its power generation, transmission and distribution system.
Shanghai Electric Power made the announcement during a briefing to cabinet committee on power on business plan for K-Electric. The meeting was chaired by Federal Minister for Defence, Water and Power Khawaja Mohammad Asif. Federal Minister for Petroleum Shahid Khaqan Abbasi, Privatization Commission Chairman Muhammad Zubair Umar, Board of Investment Chairman Muftah Ismail and other highups were present in the meeting.
It is pertinent to mention here that Shanghai Electric Power had bought 66 percent share of K-Electric for $1.7 billion in October 2016. Government has only 24 percent share of K-Electric.