BOP, PTPL ink debt agreement

LAHORE:

A signing ceremony was held for the award of Rs20b worth of debt arrangement mandates to The Bank of Punjab (BOP) by Punjab Thermal Power Limited (PTPL) and the Energy
Department on Sunday.

The ceremony, held at BOP’s head office, was attended by Secretary Energy Ajmal Bhatti, CEO PTPL Mr. Salman Zakaria, Director BOP Mr. Ghazanfar Jillani and President and CEO BOP Mr. Zafar Masud, along with other senior officials of PTPL and BOP.

The PTPL, sponsored by the Energy Department, is developing a 1,263MW RLNG-fired power plant to provide clean energy in Pakistan, with a project outlay of PKR 120 billion.

It is one of the largest and most efficient independent energy producers in Pakistan and is expected to address the energy deficit of the country at an affordable cost.

The award of debt arrangement mandates is a testament of PTPL and the Punjab Government’s trust in the investment banking capabilities of BOP under its new leadership.

CEO PTPL Zakaria appreciated the role of BOP for supporting PTPL in arranging project debt and extending all possible support to date.