Pakistan issues guarantee for mega power project
The government of Pakistan has issued guarantee to Engro Powergen Thar Ltd (EPTL) to formally recognise financial close for the 2x330 (660MW) Thar Engro power station.
In September, we reported that Sindh Engro Coal Mining Company (SECMC) achieved financial close for the project. SECMC is a joint venture made up the Government of Sindh, Engro Powergen and affiliates namely, Thal Ltd (House of Habib), Hub Power Company, Habib Bank Limited, China Machinery Engineering Corporation (CMEC) and State Power International Mendong (SPIM).
The project will be developed by Engro Powergen China Machinery and Engineering Company, Habib Bank Ltd and Liberty Mills Ltd. It will be located a Thar (Block-II). The new facility is expected to be operational by 2019.
The total project investment is estimated at US$2 billion.
Additionally, the National Transmission and Despatch Company (NTDC) has committed to establish a 500kV Direct Circuit Transmission Line from Thar to Matiari.
