KAPCO Shareholders Approve Rs. 800 Million Sale of Gas Turbines to Rizwan Steel
In a key corporate development, shareholders of Kot Addu Power Company Limited (PSX: KAPCO) have officially approved the sale of two gas turbines (GT-3 and GT-4) along with associated machinery and parts to Rizwan Steel (Private) Limited for Rs. 800 million.
✅ Shareholder Approval Secured
The decision was finalized during KAPCO’s 13th Extraordinary General Meeting (EOGM) held on July 15, 2025. The approved transaction is still subject to obtaining regulatory approvals as outlined in the company’s statement of material facts submitted to the Pakistan Stock Exchange (PSX).
🔧 Details of the Sale
The assets being sold include:
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Gas Turbine GT-3
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Gas Turbine GT-4
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Associated spare parts and related equipment
This strategic move is aimed at optimizing the company’s asset portfolio and unlocking capital from non-core equipment.
👥 Board Authorized to Execute Deal
KAPCO’s Board of Directors has been granted full authority to complete the sale. Furthermore, CEO Shahab Qader Khan and Company Secretary Adolf Anthony Rath have been empowered to:
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Finalize the disposal and sale terms
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Execute agreements for sale and transfer
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Collect sale proceeds
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Fulfill all compliance obligations with regulatory authorities including the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX)
📈 What This Means for Investors
The transaction is part of KAPCO’s broader plan to restructure and streamline its operations. It may also enhance shareholder value by directing proceeds towards more productive uses or reducing liabilities.
