ELECTION OF DIRECTORS
20th June, 2014 - Hubco plans $900m coal-run power projects
The Hub Power Company Limited (Hubco) plans to develop coal-based projects of up to 660MW at a cost of $800-900 million. Hubco CEO Khalid Mansoor told that the company had already sought NTDC approval for power evacuation and would be shortly seeking Letters of Intent (LoI) from Private Power and Infrastructure Board (PPIB). The company is working on the project´s feasibility and it would take 12 to 18 months to achieve the financial closure of the project, he said. The board of directors of Hubco in its meeting on June 19 also approved equity investment of $20 million in Sindh Engro Coal Mining Company (SECMC). This investment would be aimed at coal-mining which would revolutionize the power sector.