AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Hub Power Company (HUBC) announced that lenders have declared the Project Completion Date (PCD) for Thar Energy Limited (TEL) and ThalNova Power Thar (TN) as October 31, 2025. The completion of these 330MW coal-based projects marks a significant milestone, allowing them to initiate dividend payouts. HUBC holds a 60% stake in TEL and a 38.3% stake in TN.
TEL achieved Commercial Operation Date (COD) in October 2022, while TNTPL reached COD in February 2023, both behind the initial target set for March 2021.
Projections by AKD Securities Limited include gross dividend assumptions of approximately PkR3.0/5.0 per share for TEL and TNTPL in fiscal years 2026 and 2027.
The primary beneficiaries of the project completion are HUBC, with its 60% stake, and Fauji Fertilizer Company (FFC), which holds a 30% stake. Target prices for HUBC and FFC are maintained at PkR194 per share and PkR597 per share, respectively, according to AKD Securities Limited.