Former president Asif Zardari, Prime Minister Nawaz Sharif and Sindh CM Qaim Ali Shah unveil the 660MW coal power generation project at Thar. PHOTO: APP
KARACHI: The inauguration of the Thar Coal Power Project brought the rare joint appearance of former president Asif Ali Zardari and his successor, Prime Minister Nawaz Sharif.
The two erstwhile rivals were amicable, however, as they laid together the foundation stone for the $1.6 billion project in Mirpurkhas, Sindh.
Both leaders drew attention to the cross-party cooperation that led to the inauguration of the project.
“The concept came about five years ago,” Zardari said in his speech, “and the Pakistani leadership has matured to the extent that projects like this can be executed.”
Sharif echoed Zardari’s sentiments in his address.
“Politics has its place. We all act according to our mandates, and Mr Zardari has passed on his mandate with an open heart,” he said.
“People should recognise that politics in Pakistan is done differently now. This project isn’t Sindh’s project; it is Pakistan’s project. This isn’t Zardari’s or Nawaz Sharif’s project; it is Pakistan’s project.”
Sharif moved on to directly address Pakistan’s power crisis. “The project,” said Sharif, dressed in a traditional Sindhi hat and shawl, “is one of many that will take Pakistan out of its acute electricity shortage.”
He then went on to list various projects, including three dams, wind power at Jhimpir, 10 projects at Gadani that he hopes will take Pakistan out of its current power troubles.
The Thar Coal Power Project is estimated to produce 660MW of electricity, according to Sindh Chief Minister Qaim Ali Shah, who was also present at the inauguration. It is expected to be completed by 2017.
Of the $1.6 billion in costs, the project is based on 75:25 debt to equity ratio. Engro Power, one of the stakeholders of the project, envisages raising $900 million from Chinese banks, $300 million from a Pakistani banking consortium and the remaining $400 million from sponsors.
COMMENTS (51)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
Chalo ... Ek koila hi bucha tha inse...who bhi gaya in kay pait main!!! Allah have mercy on us!!
@LuvPak: "The special idea about it is the coal don’t have to be mined for burning. It will be burned inside the ground to make electricity." Interesting! Could you elaborate how such a feat could be accomplished? In India, we had a coal mine in Jharkhand which somehow got ignited. We couldn't stop fire from consuming the whole coal seam for years. It is probably still burning. According to you, we should have built a generating station underground and generated electricity. It is probably Pakistan's home-grown technology. @a&a: "Udru saying….. Dehli is still far away……????" Wrong! It is a Persian saying "Delhi door ast!"
Proud of my leaders! "United We Stand"
Roshan Pakistan Khappay Khappay Khappay
I am CEO of the company responsible for this job. Yes, we have many challenges, we are short on experience, financing etc. But Inshallah we will make it happen. Tide is on our side and we will Inshallah we will make Pakistanis proud of Thar/Engro. Need prayers of all Pakistanis.
@Junaid:
Rubbish. If the project is economically viable it's easy to find an international mining company to both finance and develop the mine - all you need to do is negotiate an appropriate royalty agreement. The reality is that Thar isn't economically viable and despite it's size/wealth won't put it's own capital at risk.
@youth: This is PPP and sind govt project , please read the news don't judge by pic only :)
All who congratulated NS, this is Sind Govt Project by PPP, Zardari only invites NS as a good political gesture and follow his reconciliation politics. NS has no credit on this project. Zaradri made a political mistake by inviting him because ignorant people only see picture and decide don't bother to read the news.
We are proud of our PM who is working with dedication. Insha Allah, Pakistan will progress under his leadership.
When Mian n Zardari raazi so how dare will the Qazi!!!!
It is a great moment to start the project Thar Coal Power. But some opponents are jealous. They dont want prosperous Pakistan. I am shocked to see the negative comments from some people. They should be positive and support the government for timely completion of the project.
@Ch. Allah Daad: Commendable
So I am suspecting there will be no accountability of Zardari and vice versa in future?
@Hataf Shahab: Hats off to Zardari
@Tabinda Naheed: And Zardari too.
bird of same feathers flock together..
People of Pakistan truly deserve these two. May they and their children rule for next two generation.
@Ch. Allah Daad: yah great leaders both have millions and billions stashed in the west
I will scratch your back and you scratch mine = Democracy
People should recognise that both politicians are not taking any specific province for a ride but the whole of Pakistan.
good work done by NS. He is trying his best for resolution of issue of power shortage.
Bravo Nawaz Sharif