China - based Shanghai Electric power company will purchase a controlling stake in K - Electric , a power generation and distribution firm in Karachi , Pakistan , for $ 1.77bn after Abraaj Group confirmed its divestment of its 66.4 % stake in the company . Serving approximately 2.2 million customers in and around the city , the company operates both thermal power generation and distribution . Chinese companies' interest in Pakistan is growing after China announced energy and infrastructure projects worth $46 billion in the South Asian nation last year, with a view to opening a trade corridor linking western China with the Arabian Sea. Chinese authorities have announced $ 10bn of overseas utility investment this year , up from $ 24 m during the same period in 2011 , according to Bloomberg .
China - based Shanghai Electric power company will purchase a controlling stake in K - Electric , a power generation and distribution firm in Karachi , Pakistan , for $ 1.77bn after Abraaj Group confirmed its divestment of its 66.4 % stake in the company . Serving approximately 2.2 million customers in and around the city , the company operates both thermal power generation and distribution . Chinese authorities have announced $ 10bn of overseas utility investment this year , up from $ 24 m during the same period in 2011 , according to Bloomberg .