HUBCO And FFC Join Hands In 2017
Lahore, March 15, 2017: Pakistan's largest fertilizer producer,
Fauji Fertilizer Company Limited (FFCL) is entering into a strategic
alliance with the Hub Power Company Limited (HUBCO)to set up a 330 MW Coal
based Power Plant in Thar. The announcement came after FFC Board
of Directors’ meeting held in Rawalpindi on Wednesday, 15thof March
2017.
The power plant,being a CPEC
Project, will be built under a special purpose company, Thar Energy
Limited (TEL), and will be based on indigenous coal to be mined from the coal
fields of Thar Block-II. Commenting on the joint venture with HUBCO, Lt Gen
Shafqaat Ahmed, HI(M) (Retd), CE&MD FFC assured that this project will help
address the power shortfall in the country utilizing local coal, which is also
a major goal of the current Government besides adding value to the Company’s
long term investments in the best interest of its
shareholders.FFC and HUBCO both are well reputed and internationally recognized corporate entitieswith
extremely high business and financial credibility. CE&MD FFC
added they believe that this strategic partnership will open up new avenues of business
growth, whereas theexcellent financial position, credibility and best business
practices of the two corporate giants will provide synergy and confidence forall
the stakeholders.
EmoticonEmoticon