The Karachi Electric Supply Company Ltd, being part of UAE-based Abraaj group, will participate in 'Magnificent 7 UAE Expo - 2011', being held in Karachi Expo Centre here from November 30 to December 2. According to a brief released here on Monday, KESC was incorporated in September 1913 and was privatised in 2005. In September 2008 Abraaj Capital acquired equity stake in KES Power, holding company of KESC, and took administrative control of KESC.
Abraaj committed a substantial equity investment of $361 million in the company in a three-year period, of which $300 million have already been invested. The government of Pakistan is the second largest shareholder in KESC with 25.66 percent shareholding, after KES Power which holds 72.58 percent shares.
Participation of KESC in the Expo will highlight the contribution made by UAE multinational companies in the socio-economic development of Pakistan. In order to further promote the business ties between the two countries and to explore more avenues of mutual co-operation and collaborations the potential sectors and opportunities will be highlighted in the exhibition.
This event will provide the management an opportunity to inform and interact with valued shareholders, how KESC is striving towards sustainable power solutions for the economic hub of the country. The company will be showcasing some of their ongoing future projects mainly based on alternative fuel solutions for more sustained power generation. The projects which will be showcased are:
---- Biogas project, power generation capacity up to approximately 22MW, which recycles biodegradable waste and contributing to a cleaner, greener environment.
---- Thar coal project. Tapping the Thar coal opportunity of initial power generation capacity of 300MW (overall 1200 mw).
---- Bin Qasim Power Plant II, which is unique addition to the KESC power generation fleet in terms of capacity, thermal efficiency and the magnitude of capital injection by Abraaj group. Power generation capacity of 560 mw.
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