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Private Power and Infrastructure Board targets to achieve Financial Close for over 5000 MW Independent Power Producer by end of year 2015: Minister

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Islamabad, September 17, 2015 (PPI-OT): Private Sector Projects totalling 5155 MW will achieve Financial Close by the end of year 2015. This was stated by the Federal Minister for Water and Power Khawaja Muhammad Asif while chairing the 102nd meeting of the Board of Private Power and Infrastructure Board (PPIB) held here today. He said that the government is making every effort to increase electricity supply to the national grid through all possible avenues, private sector being one of them.

The private sector power projects which will achieve Financial Close this year are 102 MW Gulpur Hydropower Project at Poonch River, Azad Jammu and Kashmir, 720 MW Karot Hydropower Project at Jhelum River, District Rawalpindi, 870 MW Suki Kinari Hydropower Project at Kunhar River, Mansehra, Khyber Pakhtunkhwa, 1320 MW Port Qasim Coal based Power Project at Port Qasim, 660 MW Engro Powergen Coal based Power Project at Thar Block-II, Sindh, 1320 MW Shandong Imported Coal based Power Project at Qadirabad, Sahiwal and 163 MW Grange Holdings Coal based Power Project at Arifwala, Punjab.

The said projects have local and foreign investments where 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 China-Pakistan Economic Corridor. The Minister and Board members indicated their satisfaction on the progress and advised PPIB to keep expediting the projects so that the timely completion is ensured.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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