KE reaffirms commitment towards Karachi with $3b investment

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Staff Reporter

Karachi

K-Electric is committed towards Karachi and its growth with an investment of USD 3 billion over the next four years across the value chain. This was stated by Aamir Ghaziani, Chief Financial Officer of KE at the Corporate Analyst Briefing session held at the Pakistan Stock Exchange (PSX) on Thursday. Moonis Alvi, CEO K-Electric, and other members of the KE Leadership team were also present at the session.
The participants were also informed about the company’s financial performance and continued operational improvements including growth in sent-out, significant reduction in T&D losses and sustained improvement in recovery levels. These improvements were underpinned by investments of more than USD 2.4 billion from FY 2009 to FY 2019, in all business verticals, including investments of over USD 960 million in the last three years alone.
The CFO also said that to maintain this growth momentum, investments in infrastructure across the value chain is crucial including a 900 MW RLNG-based BQPS-III, a 700 MW coal-based IPP project, and Transmission and Distribution related projects. He further said that the company’s over USD 450 million TP-1000 project is on course for successful completion, adding about 1,000 MVAs of transmission capacity through seven grid stations and associated power lines and systems. Four grids and 22 power transformers have already been energized under TP-1000 project.