CMEC to acquire Thal Nova’s stakes

KARACHI: Dubai-based CMEC Thal Nova Power Investments Limited, a subsidiary of China Machinery Engineering Corporation (CMEC), will acquire 10 percent stake in Thal Nova Power Thar (Pvt) Ltd, which is developing 330MW coal-fired power plant on Thar, a statement said on Wednesday.

The subscription will be subject to all the regulatory approvals. “CMEC ThalNova Power Investments Limited has also executed a Novation agreement with the existing shareholders of ThalNova,” the statement added.

ThalNova was awarded power generation licence for setting up a 330-megawatt coal-fired power plant at Thar coal mine mouth, Sindh. It is a joint venture between Thal Limited and Novatex Limited.