The shareholders of Kot Addu Power Company Limited (PSX: KAPCO) have approved the sale of plant and machinery—specifically Gas Turbines GT-3 and GT-4, along with associated parts—to Rizwan Steel (Private) Limited for Rs. 800 million.
The resolution was passed at KAPCO’s 13th Extraordinary General Meeting held on July 15, 2025. According to a stock filing, the transaction remains subject to requisite regulatory approvals as outlined in the company’s statement of material facts.
The Board of Directors has also been authorized to carry out the sale on behalf of the company. Additionally, KAPCO’s CEO Shahab Qader Khan and Company Secretary Adolf Anthony Rath have been empowered to finalize the disposal, negotiate terms, execute sale and transfer agreements, receive sale proceeds, and complete all related formalities with regulatory bodies, including SECP and PSX.