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Middle East Market

Govt urged to facilitate KE deal with Shanghai Electric

Sumary of Govt urged to facilitate KE deal with Shanghai Electric:

  • Saudi Arabia Al-Jomaiah Group on Wednesday sought early resolution of payables and receivables of K-Electric (KE) and urged the government and public sector entities to facilitate the power utility takeover by China Shanghai Electric Ltd…
  • A press statement issued by KE said that Aljomaih Holdings’ Managing Director Investments Abdulaziz Hamad Aljomaih hoped that the government of Pakistan would expedite the removal of any impediments to the conclusion of Shanghai Electric Power (SEP) proposal to take a 66.4 per cent controlling stake in K-Electric Limited…
  • The statement, issued on the conclusion of a two-day visit of the Saudi company official, said that Aljomaih was one of the largest investors in KE through the consortium that bought out the KESC in 2005…
  • During his visit, the Saudi investor met the country senior leadership and officials including Prime Minister Imran Khan and President Arif Alvi…
  • The KE statement said that Mr Aljomaih was in Pakistan to seek resolution of challenges facing KE including the long-standing issue of payables and receivables involving the power utility and several government entities….

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