ISLAMABAD: Private Power Infrastructure Board (PPIB) on Wednesday approved processing of coal-based power projects totalling 4,250 megawatts (MW).
This go-ahead signal was given during the 96th meeting of the Board of PPIB with Federal Minister for Water and Power Khawaja Muhammad Asif in chair.
In a press statement, the PPIB said it has received very encouraging response from the private sector where prominent local and international investors have shown interest in developing coal-based power projects in the country at locations other than Gadani Power Park as well.
These include HUBCO (660 MW), Global Benefit Malaysia (660 MW), Giga Energy (420 MW), Yunus Brothers/Lucky Cement (660 MW), Asiapak Hong Kong (2x660 MW), Siddiqsons Group (330 MW) and Asia Petroleum (200 MW).
These power plants are proposed at various locations includes Hub, Port Qasim, Karachi Coastal area, Faisalabad, Gharo and Jamshoro. In addition to these, Sino Sindh Resources having China Power International as partners and Thar Power Company, which is a joint venture of Engro Energy and government of Sindh have also shown interest in developing 2x600 MW and 2x330 MW power plants respectively at Thar.
The Board approved the processing of these projects after completion of the required formalities. Minister assured the government was committed to provide uninterruptible cheap power to the people of Pakistan and was working on all avenues to achieve its objective.
He informed in order to evacuate power from the upcoming independent power producers (IPPs), the government was inviting private sector for construction of transmission lines and the policy in this regard was expected to be announced shortly.
The Board was briefed PPIB was constantly monitoring early implementation of the hydropower projects included in the ‘early harvest projects’ priority list of the China Pakistan Energy Corridor.
These include 870 MW Sukki Kinari hydropower project, 720 MW Karot hydropower project and 1100 MW Kohala hydropower project. Keeping in view the importance being accorded to projects based on indigenous resources, Letter of Support was extended for the 100 MW Gulpur hydropower project at Poonch River near Kotli Azad Kashmir.
Ms Nargis Sethi Secretary Water and Power, Zafar Mahmood Chairman Water and Power Development Authority, Sohail Akbar Shah additional Secretary Ministry of Water and Power/Managing Director PPIB Mrs Azra Mujtaba, additional secretary Ministry of Finance, representatives of Ministry of Petroleum and Natural Resources, Federal Board of Revenue, Punjab, Sindh and Khyber Pakhtunkhwa, AJ&K, Gilgit-Baltistanand FATA, private sector member, besides executives directors and directors of PPIB and other senior government officials attended the meeting.
DUBLIN: Paddy Power will return 392 million euros ($439 million) to shareholders after the Irish ...