Kohat Cement-Led Consortium Explores Acquisition of GEPCO Stake in Pakistan’s Privatisation Process
Kohat Cement Company Limited has announced that a consortium involving the company has been pre-qualified to participate in the privatisation process for Gujranwala Electric Power Company (GEPCO), marking a potential expansion into Pakistan’s power distribution sector.
In a material information notice dated October 7, 2026, Kohat Cement informed the Pakistan Stock Exchange (PSX) that it had joined hands with Hub Power Holdings Limited, Lucky Cement Limited and Metro Ventures (Private) Limited to form a consortium for the proposed acquisition of a 51% to 100% equity stake in GEPCO, along with management control.
The stake is being offered for divestment by the Government of Pakistan as part of its ongoing privatisation efforts. The consortium submitted an Expression of Interest and a Statement of Qualification to participate in the process.
According to the disclosure, the consortium has been pre-qualified by the Privatisation Commission and shortlisted to conduct financial, technical and legal due diligence on GEPCO. Following this process, the equity stake will be offered through a competitive bidding procedure in accordance with applicable privatisation laws.
The potential acquisition represents an opportunity for the consortium to evaluate an investment in Pakistan’s electricity distribution sector. However, the announcement does not indicate that a final acquisition decision has been made.
Kohat Cement clarified that neither the company nor the consortium has entered into any binding commitment with any party regarding the proposed transaction. Any commitment would depend on satisfactory completion of due diligence, receipt of all necessary corporate and regulatory approvals, and a determination that the transaction is commercially viable.
For investors, the development is an important corporate update because it highlights Kohat Cement’s participation in a major privatisation opportunity beyond its core cement business. Nevertheless, the potential financial and operational implications for the company will depend on the outcome of the evaluation and the terms of any eventual agreement.
The company stated that its immediate objective is to undertake comprehensive due diligence and assess the viability of the proposed acquisition. Further developments will depend on the progress of the privatisation process and the consortium’s subsequent decisions.
