Thar coal: Coal extraction project launched
Total foreign exchange savings of the Thar project are estimated at being close to $50billion
Thar block to generate 4,000 megawatts of electricity for the next 50 years. DESIGN: FAIZAN DAWOOD
KARACHI:
Sindh Engro Coal Mining Company (SECMC) and the Government of Sindh broke ground on Thursday to mark the beginning of a coal extraction project at Thar Coal Block-2. SECMC is a joint venture between Engro Corporation and Government of Sindh.
The project which will cost a total of $1.3 billion and take four years to complete, has received a $700 million dollar sovereign guarantee from the Economic Coordination Committee, and is expected to start later this year.
Shamsuddin A Shaikh, CEO of SECMC, said “Thar has enormous energy potential. SECMC’s Thar Block-2 can produce 4,000 megawatts (MW) for the next 50 years.
Total foreign exchange savings for 4,000 MW of Thar coal based power plants are estimated at more than $50 billion for the life of the project.” Chief Minister Sindh Qaim Ali Shah, and CEO of Engro Corporation Ali Ansari were also present at the ground breaking ceremony.
Published in The Express Tribune, March 15th, 2013.
Like Business on Facebook to stay informed and join in the conversation.
Sindh Engro Coal Mining Company (SECMC) and the Government of Sindh broke ground on Thursday to mark the beginning of a coal extraction project at Thar Coal Block-2. SECMC is a joint venture between Engro Corporation and Government of Sindh.
The project which will cost a total of $1.3 billion and take four years to complete, has received a $700 million dollar sovereign guarantee from the Economic Coordination Committee, and is expected to start later this year.
Shamsuddin A Shaikh, CEO of SECMC, said “Thar has enormous energy potential. SECMC’s Thar Block-2 can produce 4,000 megawatts (MW) for the next 50 years.
Total foreign exchange savings for 4,000 MW of Thar coal based power plants are estimated at more than $50 billion for the life of the project.” Chief Minister Sindh Qaim Ali Shah, and CEO of Engro Corporation Ali Ansari were also present at the ground breaking ceremony.
Published in The Express Tribune, March 15th, 2013.
Like Business on Facebook to stay informed and join in the conversation.