Company type | Investment Company |
---|---|
Industry | Finance |
Founded | 2012 |
Headquarters | , Pakistan |
Key people | Shaheryar Chishty (CEO) |
Products | Investments in infrastructure, energy, power, transport, logistics, and technology |
Subsidiaries | Daewoo Pakistan, Thar Coal Block 1, Liberty Power Limited, Bol Network |
AsiaPak Investments is a Pakistan-based investment company with a presence in key cities like Karachi, Lahore, and Islamabad. It was founded by the serving CEO of the company Shaheryar Chishty in February 2012. [1] Their investment focus is exclusively within Pakistan, concentrating on critical sectors like infrastructure, energy, power, transport, logistics, and technology.
AsiaPak Investments has played a substantial role in various sectors within Pakistan. One notable ownership is Daewoo Pakistan, and the company has made strategic investments in significant projects. This includes substantial involvement in Thar Coal Block 1, a vital project under the China-Pakistan Economic Corridor (CPEC) known as an "early harvest" initiative. The project encompasses a 7.8 million tons per annum coal mine and a 1,320 MW mine mouth Independent Power Producer (IPP). Additionally, AsiaPak Investments holds key investments in Liberty Power Limited, which is a 235 MW gas-fired Independent Power Producer (IPP). These investments underline the company's commitment to crucial sectors like energy and infrastructure in Pakistan. [2]
In a transaction during August 2023, AsiaPak acquired GP IGCF the general partner of IGCF LP a limited partnership holding a majority stake of 54% in K Electric. [3] [4]
In September 2023, a plan was set in motion to transform the 660MW Jamshoro Power Station from using imported coal to utilizing indigenous Thar coal for the next three decades. This modification is anticipated to enable the plant to produce approximately 5 billion units of electricity annually, significantly supporting the power supply in Karachi – a vital commercial center and economic driver of Pakistan. The entire modification project is budgeted at $50 million, which accounts for less than 10 percent of the total project cost. [5] [6]
In September 2023, AsiaPak Investments bought Bol Network, a major media group in Pakistan. Bol Network is well known for its news and entertainment channels both in Pakistan and abroad. They're distinct in that they have their own production studios and advanced media tech, which reach audiences worldwide through various broadcast and digital platforms. [7] [8]
K-Electric (KE) is a public listed Company incorporated in Pakistan in 1913 as KESC. Privatised in 2005 KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 km square territory including Karachi and its adjoining areas. The majority shares (66.4%) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan is also a minority shareholder (24.36%) in the company.
The Hub Power Company Limited, colloquially known as Hubco, is a Pakistani power company based in Karachi, Sindh. It was the first independent power producer (IPP) to establish in Pakistan and as of 2024 is the largest IPP with a combined installed power generation capacity of 3,581 MW. The revenue of the company is United States Dollars denominated.
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Lucky Cement Limited, also known as Yunus Brothers Group, or Lucky Group, is a Pakistani conglomerate company headquartered in Karachi, Sindh. It is one of the largest cement producers in Pakistan.
Electricity in Pakistan is generated, transmitted and distributed by two vertically integrated public sector companies, first one being Water and Power Development Authority (WAPDA) responsible for the production of hydroelectricity and its supply to the consumers by electricity distribution companies (DISCOS) under the Pakistan Electric Power Company (PEPCO) being the other integrated company. Currently, there are 12 distribution companies and a National Transmission And Dispatch Company (NTDC) which are all in the public sector except Karachi Electric in the city of Karachi and its surrounding areas. There are around 42 independent power producers (IPPs) that contribute significantly in electricity generation in Pakistan.
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Fauji Fertilizer Company Limited (FFC) is a Pakistani conglomerate company based in Rawalpindi. It is a subsidiary of the Fauji Foundation. FFC produces or markets various fertilizers which include urea, DAP, SOP, MOP, Boron and Zinc.
Tharparkar, also known as Thar, is a district in Sindh province in Pakistan, headquartered at Mithi. Before Indian independence it was known as the Thar and Parkar (1901–1947) or Eastern Sindh Frontier District (1882–1901).
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Sindh Engro Coal Mining Company (SECMC) is a joint venture corporation between the Government of Sindh, Hubco and Engro Corporation founded in 2009 tasked to mine and establish power projects from the Block II of the Thar coalfield in Tharparkar. Government of Sindh owns 51% of the company. Current CEO of the company is Amir Iqbal.
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China–Pakistan Economic Corridor (CPEC) is a 3,000 km Chinese infrastructure network project in construction in Pakistan. This sea-and-land-based corridor is aimed to secure and reduce the passage for China's energy imports from the Middle East, by avoiding the existing route from the Straits of Malacca between Malaysia and Indonesia, which, in case of war could be blockaded, and thus hamper the Chinese energy-dependent economic avenues. Developing a deep water port at Gwadar in the Arabian Sea and a well built road and rail line from this port to Xinjiang region in western China would be a shortcut for boosting the trade between Europe and China. In Pakistan, it aims to overcome an electricity shortfall, infrastructural development and modernize transportation networks. Along with shifting it from an agricultural based economic structure to industrial based.
Jamshoro Thermal Power Station also known by other names such as GENCO-I, and TPS Jamshoro is a gas / furnace oil and coal based thermal power plant with a total installed capacity of 880 MW located in Jamshoro near Hyderabad, Sindh in Pakistan. It is operated by the Jamshoro Power Company. The first phase of the project was commissioned between 1989 and 1991. It consists of one 250 MW unit and three 210 MW units. The power station is undergoing a planned expansion with additional 2 x 660 MW coal fired units. One 660 MW unit has been constructed and is ready for commissioning. Site preparation of second 660 MW unit is in progress with an expected commissioning date of July 2029.
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Shaheryar Chishty is a Pakistani former international Banker and businessman who holds a notable position in Pakistan's energy sector. In addition to being the owner of Daewoo Express Pakistan, he serves as the CEO of Asia Pak Investments.
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