Private power projects to achieve financial closure by year end

Water and Power Minister Khawaja Asif on Thursday said the private sector projects, totalling 5,155 megawatts (MW), would achieve financial closure by the end of 2015.

The minister expressed these views while chairing the 102nd meeting of the Private Power and Infrastructure Board (PPIB). He said that the government is making serious efforts to increase electricity supply to the national grid through all possible avenues, private sector being one of them.

The private sector power projects that would achieve financial closure this year includes the 102MW Gulpur Hydropower Project in Azad Jammu and Kashmir, 720MW Karot Hydropower Project in Rawalpindi, 870MW Suki Kinari Hydropower Project in Mansehra, 1,320 MW Coal-based Power Project at Port Qasim, 660MW Engro Powergen Coal-based Power Project in Thar, 1,320MW Shandong Imported Coal-based Power Project in Sahiwal and 163MW Grange Holdings Coal-based Power Project in Arifwala.

The minister said, “Investors from China, Korea, Qatar and Saudi Arabia have large equity contributions in these projects. The presence of international investment groups/companies in the development of private sector power projects shows the confidence of the international community in the government’s policies.”

Different ongoing private power projects were also discussed in the meeting in context to the overall electricity situation in the country. The board was briefed on coal and hydel-based private power generation projects being handled by PPIB, particularly the projects being processed under the China-Pakistan Economic Corridor (CPEC).

The minister and board members indicated their satisfaction on the progress and advised PPIB to keep expediting the projects so that timely completion is ensured.

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