Thar project: Engro plans investment of $21.3 million
Engro Energy, Siddiqsons ltd and Arif Habib Equity Ltd have entered into a joint venture for the project
Engro Energy, Siddiqsons limited and Arif Habib Equity Limited have entered into a joint venture for the project PHOTO: EXPRESS/FILE
KARACHI:
Engro Energy has planned to invest $21.4 million by way of subscription of ordinary shares in Siddiqsons Energy Limited, a Special Purpose Vehicle (SPV), to set up 330MW Thar coal-fired power generation facility.
According to a notice by Engro Corporation on the Pakistan Stock Exchange, the Board of Directors of Engro Energy Limited has approved the said investment to develop approximately 330 megawatt of Thar coal-fired power generation facility in Block II, district Tharparkar on a build, operate and own basis.
Engro Energy, Siddiqsons limited and Arif Habib Equity Limited have entered into a joint venture for the project.
Engro Energy has also entered into a Project Management Agreement with the SPV, whereby the project undertaken by the SPV, will be managed by Engro Energy.
According to Insight Securities’ research head Zeeshan Afzal, coal-based power generation facility generally use imports but this would be using Thar coal, which will certainly be good for the company.
Published in The Express Tribune, May 8th, 2018.
Engro Energy has planned to invest $21.4 million by way of subscription of ordinary shares in Siddiqsons Energy Limited, a Special Purpose Vehicle (SPV), to set up 330MW Thar coal-fired power generation facility.
According to a notice by Engro Corporation on the Pakistan Stock Exchange, the Board of Directors of Engro Energy Limited has approved the said investment to develop approximately 330 megawatt of Thar coal-fired power generation facility in Block II, district Tharparkar on a build, operate and own basis.
Engro Energy, Siddiqsons limited and Arif Habib Equity Limited have entered into a joint venture for the project.
Engro Energy has also entered into a Project Management Agreement with the SPV, whereby the project undertaken by the SPV, will be managed by Engro Energy.
According to Insight Securities’ research head Zeeshan Afzal, coal-based power generation facility generally use imports but this would be using Thar coal, which will certainly be good for the company.
Published in The Express Tribune, May 8th, 2018.