KARACHI (APP) - Sapphire Fibres Ltd has convened an extraordinary general meeting to seek approval for making long term equity investment of Rs 500 million in its subsidiary Sapphire Electric Company Ltd (SECL). According to a communique dispatched to Karachi Stock Exchange here Friday, the company said this fresh investment will enhance equity investment of the company in SECL to Rs 4.9 billion. SECL is setting up a combined cycle dual fuel power plant to generate 235 megawatts in Muridke at a cost of $ 240m.