Hub Power Company has revealed a multi-layered expansion strategy that signals a major shift in Pakistan’s energy and infrastructure landscape. The company plans to build a new Single Point Mooring (SPM) facility on the Hub coast for petroleum imports, engage in offshore exploration, and develop the country’s largest electric vehicle (EV) charging network stretching from Karachi to Peshawar. The move combines energy security goals with the rapid evolution of transport infrastructure.
Hubco’s SPM project is designed to facilitate the import of refined petroleum products for Pakistan State Oil. At present, Pakistan operates only one SPM facility, managed by Cnergyico PK, which is used exclusively for crude oil imports. The new terminal will provide a strategic alternative for petroleum logistics, enhancing storage and transportation capacity for downstream distribution. The project also includes the use of existing storage infrastructure and the Asia Petroleum Pipeline, which connects to the White Pipeline at Zulfiqarabad. This network is expected to improve supply chain efficiency and reduce transportation costs.
The company shared these developments during a detailed briefing for brokerage houses arranged by Topline Research. Hubco management indicated that the new facility will operate under a joint venture structure and serve as a critical node in Pakistan’s petroleum supply chain.
Hubco is also preparing to participate in the upcoming offshore exploration bidding round through its joint venture Prime International. This marks an expansion into the upstream energy segment, where strategic partnerships and consortiums are already being structured.
In addition to its energy infrastructure projects, Hubco is exploring new industrial opportunities on its 1,100-acre industrial site in Hub. One major initiative under consideration is setting up an aluminium smelter. Given Pakistan’s estimated 200 million tons of bauxite reserves, including 74 million tons of identified reserves across Khushab, AJK, Khyber-Pakhtunkhwa, and Ziarat, the company aims to build a fully integrated value chain. The availability of both land and sea transport infrastructure gives the company a logistical advantage for importing alumina and exporting finished products.
Hubco’s leadership, including CEO Kamran Kamal and CFO Muhammad Saqib, also discussed the financial performance and outlook of the company. They noted that recoveries from coal-fired plants have improved due to timely release of government subsidies and lower interest rates, helping reduce financing costs.
Another key area of expansion is in the EV sector. Hubco has partnered with BYD, currently the largest EV company in Pakistan, to accelerate the adoption of electric mobility. The company received a stronger-than-expected market response to the Atto 3 SUV, and local assembly is scheduled to begin in the second half of 2026. Hubco’s EV charging network will be the first of its kind in Pakistan, extending along major highways and motorways.
The company also sees potential for exporting vehicles to right-hand-drive markets in the future. Two international financing partners are already backing the project.
In the power sector, Hubco expects its two coal-based plants to declare their project completion dates soon, paving the way for dividend announcements. Unlike China Power Hub Generation Company, which pays dividends annually, Thar Energy Limited and ThalNova may distribute dividends twice a year. The first dividend is anticipated to be higher than the return on equity.
Hubco has steadily diversified its portfolio over the years. Beyond power generation, it has ventured into mining through Ark Metals (Pvt) Ltd and is also exploring strategic opportunities, including participation in the privatisation of Pakistan International Airlines as part of a consortium.
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