ISLAMABAD
\nThe Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 11.9% of the paid-up ordinary share capital of M\/s. Sindh Engro Coal Mining Company (SECMC) Limited by M\/s. International Electric Power (Private) Limited under a Share Purchase Agreement (SPA).
\nM\/s. International Electric Power (Private) Limited, established in March 2024 for the purpose of this transaction, is jointly owned by Liberty Power Holding, Soorty Enterprises, and Procon Engineering.
\nThe target company, SECMC, is a key player in coal mining and supply, while the seller, M\/s. Engro Energy Limited, a subsidiary of Engro Corporation, serves as a major holding company for energy investments in Pakistan, said a press release issued on Monday.
\nIn its competition assessment, the CCP identified the relevant market as \u2018Coal Mining\u2019 within Pakistan. SECMC operates under the regulatory oversight of the Thar Coal Energy Board and the Government of Sindh, for determining the price of coal for Thar-coal based power plants.
\nThis transaction strengthens International Electric Power\u2019s foothold in the coal mining industry, while SECMC\u2019s market share will remain stable post-acquisition.
\nThe coal mining sector in Pakistan, particularly in the Thar region, is crucial for the country\u2019s energy security and economic growth, given its potential to support large-scale power generation projects.
\nWith International Electric Power\u2019s entry into this sector, the transaction is poised to contribute to the broader development of Pakistan\u2019s energy infrastructure, enhancing domestic coal production and reducing reliance on imported fuels.
\nThis strategic move highlights the growing importance of coal mining in shaping the country\u2019s energy future.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 11.9% of the paid-up ordinary share capital of M\/s. Sindh Engro Coal Mining Company (SECMC) Limited by M\/s. International Electric Power (Private) Limited under a Share Purchase Agreement (SPA). M\/s. International Electric Power (Private) Limited, established in March 2024 for the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-430255","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n