IPP secures January 2026 financial close for 25,000-unit CKD facility in Gharo; expands EV charging footprint and advances coal, oil and metals ventures
Hub Power Company Limited (HUBCO) is pressing ahead with a multi-sector diversification strategy, announcing plans to commence operations at its new completely knocked down (CKD) car assembly plant in Gharo, Sindh, during the second half of 2026.
According to a report issued by Topline Securities following a management briefing, the greenfield automotive project reached financial close in January 2026. The plant is designed with an annual production capacity of 25,000 units.
The total project outlay stands at $150 million, structured with a 60:40 debt-to-equity ratio. HUBCO holds a 50 percent equity stake in the venture. Among the financiers, British International Investment is participating as a foreign lender, contributing approximately 25 percent of the overall financing requirement alongside other domestic and international financial institutions.
Beyond automobile manufacturing, the company is scaling up its electric vehicle charging network. At present, 16 charging stations are operational at oil marketing company retail outlets and major commercial centres. HUBCO aims to establish a continuous charging corridor along the national motorway network, targeting full coverage from Karachi to Peshawar.
For this rollout, the company has entered partnerships with leading oil marketing companies, including Pakistan State Oil (PSO), Attock Petroleum Limited (APL), and Pak-Arab Refinery Company (PARCO). Discussions are also underway with GO/ARAMCO to broaden the charging network footprint.
In the mining segment, HUBCO informed investors that Phase III of Sindh Engro Coal Mining Company (SECMC) is expected to achieve commercial operations by the end of the current year.
The company is simultaneously evaluating development options at its Hub base plant site, including the construction of an oil terminal and linkage to the White Oil Pipeline through the Asia Petroleum pipeline network.
Additionally, management disclosed that HUBCO is assessing the feasibility of establishing an aluminium smelter. The Hub site is considered strategically positioned due to existing infrastructure, including water availability, jetty access, and established electricity transmission lines.
The latest disclosures underscore HUBCO’s broader push to reposition itself beyond conventional power generation into automobiles, clean mobility infrastructure, mining expansion and heavy industry.
