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Prince Mansour bin Mohammed Al Saud signed a landmark Memorandum of Understanding with Shehryar Chishti, CEO of AsiaPak Investments, to acquire majority stake in K-Electric at Sindh CM House on Thursday. This represents the largest Saudi investment in Pakistan’s power sector, serving over 3.4 million consumers in Karachi.
The deal follows Shanghai Electric Power’s withdrawal from its $1.77 billion acquisition plan after nine years of regulatory delays. Shanghai Electric Group’s subsidiary formally terminated the proposed acquisition of 18.3 billion shares on September 9, 2025, which included $270 million in performance-based bonuses.
Prince Mansour’s participation reflects Saudi Arabia’s Vision 2030 initiative promoting global energy partnerships. The transaction received endorsement from Pakistani and Saudi leadership as a milestone in business-to-business cooperation.
Industry sources indicate Saudi investors will focus on strengthening K-Electric’s financial health, grid reliability, and renewable integration while addressing longstanding tariff disputes and regulatory challenges under International Monetary Fund programs.
