Hubco, CPIH ink $2.4bln coal-fired power project deal

Hub Power Company (Hubco) signed a joint venture agreement with China Power International Holding Limited (CPIH), a wholly-owned core enterprise of China Power Investment Corporation (CPIC), to develop a $2.4 billion coal-fired power project. The JVA was signed amid the presence of PM Nawaz Sharif, President of China Xi Jinping and the senior management of Hubco and CPIH. Chairman Hubco Hussain Dawood said, “Hubco has a strong growth pipeline. The company is all set to seek medium to long-term growth through expansion and investments. This collaboration will not only strengthen Hubco’s leadership position in industry, but will also serve as an important milestone in attaining the sustainability in our energy mix.”