Waves Singer Pakistan Eyeing Acquisition of Heavy Electrical Complex
Waves Singer Pakistan Limited is looking to acquire 96.6 percent shares in the Heavy Electrical Complex (HEC) by way of privatization. Its Board of Directors has decided to submit an Expression of Interest (EOI) to participate in the privatization process of the HEC that was put on the list of privatization by the government.
In November 2020, the Cabinet Committee on Privatization (CCoP) had approved the transaction structure for the divestment of 96.6 percent shares of the HEC which is a Private Limited Company under the State Engineering Corporation, Pakistan.
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It has been set up in technical collaboration with manufacturers of international repute to manufacture electrical equipment mainly used in the 132 KV and 66 KV substations and grid stations of the high voltage power supply systems.