Posted 4/7/2024, 1:44:35 AM
Liberty Power Acquires Stake in Pakistan's Leading Coal Miner Sindh Engro for $125 Million, Bets on Domestic Coal to Bypass Foreign Exchange Crunch
- Liberty Power bought thermal energy assets from Engro Corp subsidiary for $125 million
- Deal includes Sindh Engro Coal Mining Company, Pakistan's leading coal producer
- Liberty Power believes in long-term potential of Thar coal reserves to meet Pakistan's energy needs
- Power sector plagued by debt, theft, losses; IMF reforms expected to help
- Liberty Power sees domestic coal as way to bypass Pakistan's foreign exchange crunch
