KARACHI: Jahangir Siddiqui and Company is diversifying its business interests into power production by conducting due diligence for the 100-megawatt Quaid-e-Azam solar power project.
“Jahangir Siddiqui & Co Ltd (JSCL) has been pre-qualified by the Punjab Privatisation Board, Government of Punjab in relation to acquisition of 100% equity stake in the Quaid-e-Azam Solar Power (Private) Limited,” Jahangir Siddiqui Company Secretary and Chief Financial Officer Hasan Shahid said in a notification to the Pakistan Stock Exchange on Wednesday.
The transaction would be subject to obtaining all relevant internal and regulatory approvals, he said.
The Quaid-e-Azam solar power project has been installed in Bahawalpur district, Punjab.
A company official added it was searching for “(new) investment avenues to create value for its shareholders.”
He said the company was not in the business of power production as of yet.
Published in The Express Tribune, December 21st, 2017.