Oilboy Plans Rs1bn Investment To Roll Out 70 EV Charging Stations.
✧ GENERATE BRIEFING +
Oilboy Energy Limited has announced plans to raise Rs1 billion through a 200% rights issue by issuing 100 million ordinary shares at Rs10 each, aiming to fund the deployment of a nationwide network of 70 electric vehicle (EV) fast-charging stations across major urban centers and inter-city corridors in Pakistan. According to regulatory disclosures submitted to the Pakistan Stock Exchange (PSX), the total project cost is estimated at Rs1.025 billion, with the company bridging the remaining balance through internal cash flows. Each charging hub is budgeted at approximately Rs14.65 million and will feature high-capacity, dual-nozzle DC fast chargers ranging from 120kW to 240kW, capable of delivering a standard 40kWh battery top-up in 15 to 20 minutes. Equipment procurement—including chargers, transformers, and electrical panels supplied by China's HICI Digital Power Technology—is slated for October 2026, with commercial operations targeted for the first quarter of 2027.
Oilboy Energy Limited plans to raise Rs1 billion through a rights issue to establish a network of 70 electric vehicle (EV) fast-charging stations across major cities and inter-city corridors in Pakistan.
According to documents submitted to the Pakistan Stock Exchange (PSX), the company will issue 100 million ordinary shares at Rs10 each to finance the project. The rights issue will represent 200% of the company’s existing paid-up capital.
The overall project is estimated to cost around Rs1.025 billion, with Oilboy contributing an additional Rs25.42 million from internal cash flows. Each charging site is expected to cost approximately Rs14.65 million.
The planned stations will feature dual-nozzle DC fast chargers with capacities ranging from 120kW to 240kW, allowing two vehicles to charge simultaneously. A typical 40kWh battery top-up is expected to take around 15 to 20 minutes.
Oilboy expects to order chargers, transformers, electrical panels and related equipment in October 2026, with commercial operations targeted for the first quarter of 2027. Chinese company HICI Digital Power Technology is expected to supply the chargers, transformers and software systems.
The company said the project marks a new business line, shifting part of its focus from commodity trading, including coal, LPG and petrochemicals, toward retail electricity supply for transportation.
The initiative comes as Pakistan seeks to expand its EV ecosystem. Earlier plans have targeted thousands of charging stations nationwide, although limited infrastructure remains one of the major challenges to wider EV adoption.
