State Power Investment Corporation and the Abraaj Group

State Power Investment Corporation and the Abraaj Group

Overview

  • Release Date: November 02, 2016

Recently Shanghai Electric Power Company Limited (SEP), the listed subsidiary of State Power Investment Corporation (SPIC) and the Abraaj Group (Abraaj), signed the agreement on the purchase of 66.4% stake of the Pakistan-based K-Electric Limited (KE) in Beijing.

KE is the key power supplier to Karachi and the surrounding regions and also Pakistan’s only vertically-integrated power company engaged in generation, transmission and distribution. Operating five power plants with a total installed capacity of 2,243 MW; KE has 69 transmission power stations and 21,817 sub-stations, with 2.5 million users and a coverage area of 6,500 km2.

The transaction has gone through the corporate decision-making procedures and will complete after regulatory approvals are obtained in both countries.

 

SEP’s acquisition of KE is in line with China’s “Belt and Road” Initiative. It is a significant move by SEP to implement SPIC’s strategy of international development.

 

 

About Author

Elaine Li

Elaine Li (李益楠) is Marketing Manager for the Chinese Market. With ten years of experience in the nuclear power market, Elaine is experts for the certification of safety equipment (HAF 604 and 601) and marketing intelligence.