HUBCO to Collaborate With FWO Enjazat on Energy, Water and Mining

The Hub Power Company has signed a Memorandum of Understanding with FWO Enjazat L.L.C to explore collaboration on various business opportunities in energy, water and mining sectors. HUBCO and FWO Enjazat are interested in collaborating on various businesses and developing business partnerships across multiple sectors in Pakistan and abroad, with special focus on energy, water recycling and desalination, infrastructure development and mining FWO Enjazat is a partnership between Frontier Works Organization (FWO) and the Private office of His Highness Sheikh Ahmed Dalmook Al Maktoum, both being large scale developers and having multiple businesses across Pakistan, Africa, Middle East and South Asian regions and is based out of the U.A.E. The Hub Power Company Limited is a holding company. The principal activities of the Company are to develop, own, operate and maintain power stations. The Company operates through two segments: power generation business, which includes the Hub plant, Narowal plant and Laraib plant, and Operations and Maintenance business, which includes Hub plant and Narowal plant. The Company is an independent power producer (IPP) with a combined installed power generation capacity of over 1,600 megawatt (MW). It owns an oil-fired power station of 1,200 MW (net) in Balochistan (Hub plant) and a 214 MW (net) oil-fired power station in Punjab (Narowal plant).