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Shanghai Electric unveils $9 bn business plan for K-Electric

ISLAMABAD: China's Shanghai Electric plans to spend $9 billion overhauling electricity infrastructure in K-Electric, just months after the multinational revealed it was buying the power company. China is ramping up investment in Pakistan as part of a $46 billion project unveiled last year that will link its far-western Xinjiang region to Gwadar port with a series of infrastructure, power and transport upgrades. In a presentation made to Pakistani authorities, Shanghai Electric said it would invest an average of $700…