ISLAMABAD: Shanghai Electric Power on Tuesday presented their 9 billion US dollar business plan  for improving the K-Electric’s power infrastructure including transmission, distribution and generation.

The development came at a high-level meeting of the committee constituted by the Cabinet Committee on Energy (CCE) for discussion on K-Electric Transaction held under the Chairmanship of Minister for Water and Power Khawaja Muhammad Asif.

Shanghai Electric Power, new proposed shareholder of K-Electric, along with the management of KE presented their business plan worth 9 billion US$ aimed at improving and adding value to the existing power infrastructure before the meeting attended by high-level representatives from of Ministries of Water and Power, Petroleum & Natural Resources, Finance and Law and Justice Division.

Shanghai Electric Power, one of the largest companies in power sector in China, also shared their profile and international expertise and similar experience.

According to the statment released by PID, the government of Pakistan appreciated and welcomed the investment and change of shareholder in K-Electric.

“The government also highlighted the need for K-Electric to synchronize their plans of investment to bring up the infrastructure and the generation facilities, with the overall national plan for minimizing and eliminating load shedding in the country by 2018,” says the statement.