JSCL qualifies for 100% equity stake in Quaid-e-Azam Solar Park

According to Jahangir Siddiqui Company Limited (JSCL) press release to the Exchange, it has informed all the stakeholders of pre-qualifying for acquisition of 100% equity stake of Quaid-e-Azam Solar Power (Pvt.) Ltd. Earlier, Government of Punjab invited bids for acquisition of 100 Mega Watt Solar Power Project installed in District Bahawalpur, Punjab from different power companies.

Privatization Board, Government of Punjab has pre-qualified Jahangir Siddiqui Company Ltd. for the 100% equity sell-off in the project. The transaction is subject to all relevant internal and regulatory approvals.

The company has been making inroads in energy sector after Board of Directors approved long term equity investment of up to Rs. 2,000 million in Energy Infrastructure Holding (Pvt.) Ltd. The company would operate as a wholly owned subsidiary of the JSCL after subscription of Right Shares which will be offered by Energy Infrastructure Holdings for further investment in Energy, Petroleum and Infrastructural sectors.

The Directors at JSCL approved raising funds up to Rs. 1,500 million through issuance of term finance certificate

The company notice can be accessed here.