China West Power to increase equity in Pakistan Grange Power Limited

Date: 12 Oct 2015

China Western Power Industrial Co. announced on Sunday that it plans to become the controlling shareholder of Pakistan’s Grange Power Limited (GP) through an additional investment of USD 29.58m for a majority 51% stake in the latter. This announcement follows a Capital Increase Agreement between the two dated on 8 October, and the signing of a USD 192.7m EPC (Engineering Procurement Construction) contract in this March. Following this deal, China Western Power will fully manage the investment, construction and operations of GP power plant projects.

Founded in 2008, Grange Power Limited is a power generation and energy operation company.

China Western Power manufacturers new-energy equipment and provides system solutions. The company is famous for its solid manufacturing strength, industry-leading R&D technology and extensive customer service experience.

According to the announcement, this project will improve the company’s operating revenue, and is the first time China Western Power has invested and operated an overseas Build-Operate-Transfer project. This project echoes China’s “One Belt, One Road” Initiative and represents an important step towards the company’s overseas expansion.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.