Karachi: Shanghai Electric has once again made a substantial offer toacquire the electric company providing power to the city of Quaid. In thisregard, Shaan Abbas Ashari, the investment advisor to the Saudi group,briefed the media in Karachi.
The largest shareholder of the Electric Company, the Public Group, hasagreed to sell the company for up to two billion dollars. Abbas Asharirevealed that a deal with Shanghai Electric will happen again. ShanghaiElectric had offered 1.77 billion dollars, and after all these years, itwill be offered again.
He hoped that it would go up to 2 billion dollars. If the deal withShanghai Electric is finalized, it will benefit the residents of Karachi.Currently, the Saudi and Kuwaiti groups are the major shareholders in theelectric company.
Read Top Stories
Shaan Ashari mentioned that at this time, the demand for electricity inKarachi is 5,000 megawatts, and if all industries switch to electric power,this demand will increase rapidly.