Coal-based power: Letter of support issued for 350MW project

This will be Pakistan’s first project of its kind at Port Qasim

Our Correspondent September 02, 2015
It is estimated to cost $600 million and the financial close is expected by the first quarter of 2016. PHOTO: AFP

ISLAMABAD:


The Private Power and Infrastructure Board (PPIB) has issued a letter of support to Siddiqsons Energy Limited for setting up a 350-megawatt imported coal-based power project at Port Qasim, Karachi.


The National Electric Power Regulatory Authority (Nepra) has already approved upfront tariff for this supercritical coal-fired power plant, which will be Pakistan’s first project of its kind at Port Qasim.


It is estimated to cost $600 million and the financial close is expected by the first quarter of 2016.


In a statement, Siddiqsons Energy Chief Executive Officer A Rahim Rafi said his company was fully cognisant of the fact that low-cost electricity was extremely crucial for economic growth and stability of the country. “Coal-based energy production is the key to addressing this issue,” he said. Compared to the global average of approximately 41%, Pakistan generates less that 1% by coal.

Published in The Express Tribune, September 2nd,  2015.

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COMMENTS (3)

Brar | 4 years ago | Reply | Recommend @cautious: There are huge coal reserves in ur country when will u use them,
cautious | 4 years ago | Reply | Recommend Your not going to be using domestic coal - so how much is the coal going to cost and are you going to run into the same difficulties (ie financial/credit) landing a long term contract?
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