KARACHI: The Hub Power Company Ltd (Hubco) has announced that the lenders of Thar Energy Ltd (TEL) and ThalNova Power Thar (Pvt) Ltd (TN) have declared the project completion date (PCD) for their 2x330MW power plants as Oct 31, in accordance with their project financing agreements.

In a stock filing, Hubco said both TEL and TN are mine-mouth coal-fired independent power producers (IPPs) operating in Thar, which achieved commercial operations on Oct 1, 2022, and Feb 17, 2023, respectively.

Hubco holds a 60 per cent direct share in TEL and an indirect 38.3pc stake in TN through its wholly owned subsidiary, Hub Power Holdings Ltd. Both projects are recognised as priority initiatives under the CPEC.

Hubco said the declaration of the PCD was a “monumental occasion” for the company, as it enables TEL and TN to declare dividends to shareholders, subject to the availability of distributable profits and completion of regulatory procedures.

Attock Cement buying

The board of directors of Fauji Cement Company Ltd (FCCL) has approved a plan to jointly acquire a controlling stake in Attock Cement Pakistan Ltd (ACPL) alongside Kot Addu Power Company Ltd (Kapco).

In a stock exchange filing, FCCL said the acquisition covers 84.06pc of ACPL’s issued and paid-up capital, giving the two companies joint control of the cement manufacturer. Under the arrangement, FCCL will acquire 57.76 million ordinary shares, equivalent to 42.03pc of ACPL’s paid-up capital, while Kapco will purchase an equal number of shares, representing another 42.03pc stake.

Published in Dawn, November 4th, 2025