Karachi: Hub Power Company (Hubco) has joined hands with foreign and domestic construction firms to diversify its field of operations, according to a news report. Hubco and FWO Enjazat of UAE are interested to collaborate on a joint venture with special focus on energy, water recycling and desalination, infrastructure development, and mining.
In a notification sent to the Pakistan Stock Exchange, Hubco Company Secretary Shaharyar Nashat had unveiled that Hubco has signed a Memorandum of Understanding (MoU) with FWO Enjazat LLC to explore business opportunities.
FWO Enjazat is a partnership between Pakistan’s engineering group Frontier Works Organisation (FWO) and the private officer of Sheikh Ahmed Dalmook Al Makhtoum. Both are large-scale developers and have multiple businesses across Pakistan, Africa, the Middle East, and South Asia, and is based in the UAE.
Hubco Chief Executive Officer Khalid Mansoor has said that a number of initiatives were being undertaken. One of these involves using Karachi’s garbage of over 16,000 tons per day to produce 200 megawatts of electricity and 200 million gallons of water per day. He also highlighted plans for water desalination plants at Karachi and Hub. Mansoor also added that a number of technically and economically viable projects with a debt-equity ratio of 75:25 would be undertaken.
