Lahore: The Kot Addu Power Company Limited has announced the approval of a significant asset disposal, following its 13th Extraordinary General Meeting held on July 15, 2025. The company's shareholders consented to the sale of specific plant and machinery, including Gas Turbines (GT-3 and GT-4), to Rizwan Steel (Private) Limited for a price of Rs. 800 million. This transaction is contingent upon obtaining the necessary approvals as outlined in the statement of material facts.

The resolution granted the Board of Directors the authority to execute the sale on behalf of the company. Chief Executive Mr. Shahab Qader Khan and Company Secretary Mr. Adolf Anthony Rath have been empowered to oversee the disposal process. Their responsibilities include negotiating terms in the company's best interest, finalizing agreements, and ensuring the completion of all required documentation.

According to information available from the Pakistan Stock Exchange (PSX), the sale agreement will involve receiving the sale consideration and transferring the assets to the buyer. The designated market category for this transaction is within the parameters set by the company and regulatory authorities.

Additionally, the authorized officials are tasked with submitting necessary filings to the Securities and Exchange Commission of Pakistan (SECP) and PSX, among others, to facilitate the completion of this transaction. The comprehensive strategy outlined aims to ensure an efficient and lawful execution of the asset sale.