KARACHI, April 16: State-run Habib Bank is providing private power producer Kot Addu Power Company (KAPCO) with Rs1 billion working capital facility. The two sides signed an agreement to this effect here on Monday, says a press release. The documents were signed by HBL President Zakir Mahmood and CEO of KAPCO Malcolm P. Calmpin.

KAPCO is Pakistan’s largest independent power project with an installed capacity of 1600 MW meeting 18 per cent of the country’s energy requirements. It is located in district Muzaffargarh, Punjab. The plant is located on 180 acres.

The Rs1 billion facility has been arranged for KAPCO by HBL’s corporate & investment banking group. The press release says the group’s Lahore office will take care of KAPCO relationship.