ISLAMABAD – *In a positive development, $3 billion to be injected inPakistani economy by the Karachi Electric.*
The Pakistani electric supply company K-Electric would invest $3 billion indifferent projects in the next four years.
In its report to PSX, the company said that the investment would be used toimprove the company’s distribution, transmission and generationcapabilities.
The company would be adding in additional capacity of 3,000 MW ofelectricity, with the major projects including the 900 MW Re-gasifiedLiquefied Natural Gas (RLNG) Plant. The project would significantly improveKE’s overall fleet efficiency and 700 MW Coal project IPP (equity project)
The company further informed that for improving its transmission capacity,investment would be done in two projects i.e. TP – 1000 project. Underthis, seven grid stations and associated power lines and transformers willbe added, resulting in the addition of over 1,000 MVAs to transmissioncapacity. To date, 4 grid stations and 22 power trafos have been addedunder TP – 1000 project
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As for enhancing the distribution system, K-Electric would add 300 feedersand over 5,000 transformers. It would undergo conversion of 15,000 PMTsonto ABC by 2023, which will result in significant reduction in losses. Thecompany is also expected to add over 1,400 MW of new connections in thenext four years.
KE declared a profit of Rs12.3 billion compared to Rs10.4 billion during FY17, resulting in earnings per share (EPS) increasing to 0.45 rupees in FY18 from 0.38 rupees per share in FY 17. This was accompanied by markedimprovement in EBITDA, which increased to Rs32.4 billion (FY 17: Rs25.8billion), a 26% increase over last year.
