LAHORE: All Pakistan Textile Mills Association (Aptma), Punjab Chapter, on Wednesday, signed a Memorandum of Understanding (MOU) with China Machinery Engineering Company (CMEC), a Chinese company, for installation of a 330-MW coal-fired power plant.
The MOU addresses Aptma’s acute power shortage crisis and the harsh consequences of this to the textile industry. CMEC has agreed to invest and set up a coal fired power plant in Pakistan that will generate 330 MW.
Aptma Punjab has been looking forward to this project for about a year in order to achieve self-sufficiency on energy issues.
The total generation capacity which Aptma will add for the textile sector is 800MW. This focus will certainly help the textile sector to extract the best advantages from the GSP Plus status.
Further, Aptma has also agreed to execute power purchase agreements (PPAs) with CMEC.
CMEC has agreed to offer discount on tariff agreed on the basis of the latest upfront tariff determined by Nepra for compatible coal fired plants.
“It is a historic moment for Aptma members, as they are going to find energy solutions a crippling industry”, said Aptma Punjab Chairman SM Tanveer.
Group leader Aptma Gohar Ejaz said that the body being a responsible organisation is shouldering the burden of the government on energy projects.
He said the coal-fired power plant will provide electricity to mills at an affordable price and give boost to investment and employment in Punjab.
Published in The Express Tribune, June 5th, 2014.
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