| Company type | Investment Company |
|---|---|
| Industry | Finance |
| Founded | 2012 |
| Headquarters | , Pakistan |
Key people | Shaheryar Chishty (CEO) |
| Products | Investments in infrastructure, energy, power, transport, logistics, and technology |
| Subsidiaries | Daewoo Pakistan, Thar Coal Block 1, Liberty Power Limited, Bol Network |
AsiaPak Investments is a Pakistan-based investment company with a presence in key cities like Karachi, Lahore, and Islamabad. It was founded by the serving CEO of the company Shaheryar Chishty in February 2012. [1] Their investment focus is exclusively within Pakistan, concentrating on critical sectors like infrastructure, energy, power, transport, logistics, and technology.
History
AsiaPak Investments has played a substantial role in various sectors within Pakistan. One notable ownership is Daewoo Pakistan, and the company has made strategic investments in significant projects. This includes substantial involvement in Thar Coal Block 1, a vital project under the China-Pakistan Economic Corridor (CPEC) known as an "early harvest" initiative. The project encompasses a 7.8 million tons per annum coal mine and a 1,320 MW mine mouth Independent Power Producer (IPP). Additionally, AsiaPak Investments holds key investments in Liberty Power Limited, which is a 235 MW gas-fired Independent Power Producer (IPP). These investments underline the company's commitment to crucial sectors like energy and infrastructure in Pakistan. [2]
In a transaction during August 2023, AsiaPak acquired GP IGCF the general partner of IGCF LP a limited partnership holding a majority stake of 54% in K Electric. [3] [4]
In September 2023, a plan was set in motion to transform the 660MW Jamshoro Power Station from using imported coal to utilizing indigenous Thar coal for the next three decades. This modification is anticipated to enable the plant to produce approximately 5 billion units of electricity annually, significantly supporting the power supply in Karachi – a vital commercial center and economic driver of Pakistan. The entire modification project is budgeted at $50 million, which accounts for less than 10 percent of the total project cost. [5] [6]
Acquisition of Bol Network
In September 2023, AsiaPak Investments bought Bol Network, a major media group in Pakistan. Bol Network is well known for its news and entertainment channels both in Pakistan and abroad. They're distinct in that they have their own production studios and advanced media tech, which reach audiences worldwide through various broadcast and digital platforms. [7] [8]
References
- ^ Niazi, Abdullah (July 2, 2023). "Who is Shaheryar Chishty and what does he want with K-Electric?". Profit by Pakistan Today.
- ^ "AsiaPak Investments Buys Bol Network and Appoints New CEO".
- ^ "Good News: KE will be under control of AsiaPak Investments soon".
- ^ "KE not controlled by AsiaPak Investments but original stakeholders". July 28, 2023.
- ^ "AsiaPak to switch Jamshoro power plant to indigenous Thar coal". 12 September 2023.
- ^ "AsiaPak Investments seeks to convert Jamshoro plant into Thar coal". 12 September 2023.
- ^ "AsiaPak Investments acquires Bol Network".
- ^ "AsiaPak Investments acquires Bol Network". The Express Tribune. September 10, 2023.