Financial close for Pakistan’s coal-fired power project achieved

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Financial close for Pakistan’s coal-fired power project achieved

Sindh Engro Coal Mining Company (SECMC) achieved financial close for Pakistan's first local coal-fired project of 660MW to be established with the help of federal government during the month of August.

The cost of the project is around $2.1 billion of which cost of mining project is $900 million.

Secretary Water and Power, Younas Dagha, disclosed the achievement of the milestone in an interview with the local press. The FC materialised during a recent visit of Pakistani government officials to China.

Dagha also disclosed that financial close of following three power projects will be achieved in September:

(i) 1320 MW Port Qasim coal power project to be established by Sinohydro Resources Limited, China/Al Mirqab Capital, Qatar,

(ii) 1320 MW imported coal l power project, Sahiwal (Punjab) sponsored by Huneng Shandong Ruvi( Pakistan) Energy ( Pvt) Limited; and

(iii) 300 MW solar power project Zonergy in Bahalwalpur.

Financial close of the 150 MW Sachal wind power project, the 99 MW wind power project of United Energy Pakistan (UEP) and the 870 MW Sukki Kinari hydropower project has already been achieved.

The Suki Kinari Hydropower project is one of the largest private sector hydropower initiatives in Pakistan. This project alone is expected to increase Pakistan''s existing available power generation capacity by more than five per cent. The project will be operational by June 2020.

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