Business News

Seven power projects to reach financial close by year-end: Minister

Latest Update: September 18, 2015 | 249 Views
Khwaja-Asif

ISLAMABAD: Seven private coal-based and hydropower projects, having a total electricity generation capacity of 5,155 megawatts, will reach their financial close by yearend, a minister said.

Minister for Water and Power Khawaja Muhammad Asif, chairing 102nd meeting of the Private Power and Infrastructure Board (PPIB), said the implementation of these projects will start after the financial close.

These projects have local and foreign investments. Investors from China, Korea, Qatar and Saudi Arabia have large equity contributions in these projects.

“The government is making every effort to increase electricity supply to the national grid through all possible avenues, private sector being one of them,” Asif said.

The said projects include 102MW Gulpur hydropower at Poonch River, Azad Jammu and Kashmir, 720MW Karot hydropower at Jhelum River, district Rawalpindi, 870 MW Suki Kinari hydropower at Kunhar River, Mansehra, Khyber Pakhtunkhwa, 1,320MW Port Qasim coal-based power, 660MW Engro Powergen coal-based power at Thar Block-II, Sindh, 1,320MW Shandong imported coal-based power at Qadirabad, Sahiwal, and 163MW Grange Holdings coal-based power at Arifwala, Punjab.

The minister said the presence of international investment groups/companies in the development of private sector power projects shows the confidence of the international community in the government’s policies.

Various ongoing private power projects were also discussed during the meeting.

The board was briefed on coal and hydel based private power generation projects being handled by PPIB, particularly the projects being processed under the China-Pakistan Economic Corridor.

The minister and board members expressed their satisfaction on the progress and advised PPIB to ensure the timely completion of the projects.