Heavy Electrical Complex
| Company type | Private |
|---|---|
| Industry | Electrical engineering |
| Headquarters | , |
Key people | Mahmoud Haq (chairman) |
| Products | Power transformers |
Production output | 3,000 MVA annually |
| Owner | IMS Engineering (96.6%) |
| Website | www |
Heavy Electrical Complex (HEC) is a power transformer manufacturing facility located in Hattar Industrial Estate, Haripur, near the China Pakistan Economic Corridor.[1] The facility has an annual production capacity of 3,000 MVA.[2]
History[edit]
Privatisation[edit]
In late 2023, the privatization of HEC was completed with the handing over of share certificates to the buyer, IMS Engineering.[3][4] The buyer paid Rs 1.4 billion for a 96.6 percent stake in HEC and also assumed additional liabilities of Rs 752 million to Bank of Khyber.[1][5]
Land transfer[edit]
The government handed over the vacant HEC land to the Strategic Plans Division (SPD). The Ministry of Industries and Production had asked the Economic Coordination Committee (ECC) to review its earlier decision to transfer HEC land to SPD and authorize it to proceed in this regard.[6]
See also[edit]
References[edit]
- ^ a b Desk, Monitoring (January 3, 2024). "Govt completes privatisation of Heavy Electrical Complex". Profit by Pakistan Today.
- ^ "HEC privatisation completed, IMS Engineering plans to upgrade and expand facility". www.thenews.com.pk.
- ^ Desk, Web (January 2, 2024). "Privatisation of Heavy Electrical Complex completed". ARY NEWS.
- ^ "Govt Concludes Privatization of Heavy Electrical Complex".
- ^ "Jan 03, 2024 | Divestment of Heavy Electrical Complex complete". Dawn Epaper. January 3, 2024.
- ^ "HEC's land to be handed to SPD". The Express Tribune. July 12, 2023.