3 Turkish Firms Among 10 Groups Shortlisted for IESCO Sale
In practice, the administration has prequalified 10 local and international investor groups for the privatization of Islamabad Electric Supply Business (IESCO), including three Turkish energy firms and a number of major Pakistani business groups.
In practice, the administration has prequalified 10 local and international investor groups for the privatization of Islamabad Electric Supply Business (IESCO), including three Turkish energy firms and a number of major Pakistani business groups.
Article outline
- What happened
- Background
- The key numbers
- The bottom line
Key points
- The Hasnaat Brothers Construction Firm consortium includes Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited, and Farid Steel Casting (Pvt) Limited.
- The Hub Power Holding consortium includes Lucky Cement, Kohat Cement, and Metro Ventures Limited.
- The three Turkish firms shortlisted for the IESCO privatization are Aktor Elektrik Enerji Yatirimlari, Genvera Enerji, and Cengiz Enerji.
- The Pakistani firms that qualified individually include Sapphire Fibers, Novatex, Bestway Cement, and Engro Energy.
- The board additionally approved the addition of new members to the Artistic Milliners consortium for the privatization of Faisalabad Electric Supply Business (FESCO).
Notably, the Privatization Commission Board approved the prequalification of the interested parties during its session on Thursday, allowing them to proceed with detailed due diligence through the transaction's Virtual Data Room. Turkish Firms and Pakistani Groups Shortlisted.
In practice, the three Turkish firms shortlisted for the IESCO privatization are Aktor Elektrik Enerji Yatirimlari, Genvera Enerji, and Cengiz Enerji. Chinese IPP Opposes One-Year Limit on Coal Deals.
Meanwhile, the Pakistani firms that qualified individually include Sapphire Fibers, Novatex, Bestway Cement, and Engro Energy. Three local consortia have additionally been cleared to participate in the next stage of the privatization process.
In practice, the Hub Power Holding consortium includes Lucky Cement, Kohat Cement, and Metro Ventures Limited. The Artistic Milliners consortium comprises The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited, and Fazal Cloth Mills Limited.
For context, the Hasnaat Brothers Construction Firm consortium includes Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited, and Farid Steel Casting (Pvt) Limited. Pakistan's GDP Expansion Revised Down to 3.65%. FESCO, ZTBL and State Life Privatization Updates.
For context, the board additionally approved the addition of new members to the Artistic Milliners consortium for the privatization of Faisalabad Electric Supply Business (FESCO). The decision allows the consortium to participate throughout the first batch of electricity distribution business privatizations, subject to transaction requirements.
Separately, the board approved revisions to the restructuring and transaction plan for Zarai Taraqiati Bank Limited (ZTBL). The revised structure is intended to preserve the bank's focus on agricultural lending and farmer financing after privatization.
In another decision, the board selected a Deutsche Bank-led consortium as the top-ranked bidder to provide financial advisory services for the privatization of State Life Insurance Corporation of Pakistan. Stay Connected with ProPakistani.
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Taken together, the developments around 3 Turkish Firms Among 10 Groups Shortlisted for IESCO Sale point to a situation that is still moving, and the coming days should bring more clarity.
