Observer Report
Islamabad
Another Thar Coal based power generation project has achieved financial close in a ceremony at Private Power and Infrastructure Board.Financial Closing documents for the 330 MW mine mouth lignite coal power project at Thar Block-II were signed by Mr. Shah Jahan Mirza, Managing Director PPIB and Mr. Saleemullah Memon, Chief Executive Officer of M/s Thal Limited while senior officials of PPIB and the company witnessed the signing.
The Project is being sponsored by M/s Thal Limited, M/s Novatex Limited and M/s Descon Engineering Limited under the banner of China-Pakistan Economic Corridor program. Total cost of the project is US$ 497 million while China Development Bank (CDB)is the lead arranger for the foreign financing from China and Habib Bank Limited is the lead arranger for the local financing.
The plant will be fuelled by coal extracted from Thar Block II by the Sindh Engro Coal Mining Company and it will utilize 1.9 million tons of coal to generate 2236 GWh per annum. The Sponsors have already started construction activities ahead of Financial Closing and are very keen to complete this project by March 2021.
