Heavy Electrical Complex Explained

Heavy Electrical Complex (HEC)
Type:	Private
Industry:	Electrical engineering
Hq Location City:	Haripur
Hq Location Country:	Pakistan
Key People:	Mahmoud Haq (chairman)
Products:	Power transformers
Production:	3,000 MVA annually
Owner:	IMS Engineering (96.6%)

Heavy Electrical Complex (HEC) is a power transformer manufacturing facility located in Hattar Industrial Estate, Haripur, Pakistan.^[1] The facility has an annual production capacity of 3,000 MVA.^[2]

History

Privatisation

In late 2023, the privatization of HEC was completed with the handing over of share certificates to the buyer, IMS Engineering.^{[3] [4]} The buyer paid Rs 1.4 billion for a 96.6 percent stake in HEC and also assumed additional liabilities of Rs 752 million to Bank of Khyber.^{[1] [5]}

Land transfer

The government handed over the vacant HEC land to the Strategic Plans Division (SPD). The Ministry of Industries and Production had asked the Economic Coordination Committee (ECC) to review its earlier decision to transfer HEC land to SPD and authorize it to proceed in this regard.^[6]

See also

• Heavy Mechanical Complex

Notes and References

1. Web site: Govt completes privatisation of Heavy Electrical Complex. Monitoring. Desk. January 3, 2024. Profit by Pakistan Today.
2. Web site: HEC privatisation completed, IMS Engineering plans to upgrade and expand facility. www.thenews.com.pk.
3. Web site: Privatisation of Heavy Electrical Complex completed. Web. Desk. January 2, 2024. ARY NEWS.
4. Web site: Govt Concludes Privatization of Heavy Electrical Complex.
5. Web site: Jan 03, 2024 | Divestment of Heavy Electrical Complex complete. January 3, 2024. Dawn Epaper.
6. Web site: HEC's land to be handed to SPD. July 12, 2023. The Express Tribune.