KAPCO shareholders approve Rs800m Gas Turbine sale

MG News | July 16, 2025 at 10:14 AM GMT+05:00

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July 16, 2025 (MLN): Kot Addu Power Company Limited (KAPCO) has secured shareholder approval to dispose of a portion of its plant and machinery, comprising Lot-1 gas turbines (GT-3 and GT-4) along with associated parts and components.

The assets will be sold to Rizwan Steel (Private) Limited for a total consideration of Rs800 million, subject to requisite regulatory approvals.

The resolution was passed at the company’s 13th Extraordinary General Meeting held on July 15, 2025. As part of the resolution, KAPCO’s Board of Directors has been authorized to execute the sale on behalf of the company.

Additionally, Mr. Shahab Qader Khan, Chief Executive, and Mr. Adolf Anthony Rath, Company Secretary, have been empowered to carry out all necessary actions to complete the transaction.

This includes negotiating terms, executing agreements, receiving payment, and making requisite filings with the Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX), and other authorities.

The move is aimed at streamlining the company’s operations and unlocking value from underutilised assets.

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