Oilboy plans 70 EV fast-charging stations across Pakistan with Rs1bn rights issue

Oilboy Energy has set out a plan to lift Rs1 billion via a rights issue, with the money earmarked for a nationwide chain of 70 electric-vehicle fast-charging sites, Business Recorder reported. The filing lodged with the Pakistan Stock Exchange describes an offer of 100 million ordinary shares priced at Rs10 apiece. The company, previously called Drekkar Kingsway, is shifting part of its business from trading coal, LPG and petrochemicals toward selling electricity as a transport fuel.

Management said the venture would create a recurring, high-margin income stream and lessen its reliance on commodity trading margins. About Rs1 billion of the raise will go toward building and commissioning the charging network, with Rs25.42 million coming from internal cash. Each site is expected to cost roughly Rs14.65 million and will host a dual-nozzle DC fast charger able to serve two vehicles at once.

Oilboy describes the project as a greenfield undertaking, since it has never operated EV charging infrastructure before. Completion depends on securing land, importing equipment, carrying out civil works and getting load approval from the distribution company. The company is targeting the 1st quarter of 2027 for the network to come online.