A delegation of Santex Pakistan Limited (SPL) apprised Murad Ali Shah, Finance Minister and Muhammad Zubair Motiwala, Chairman Sindh Board of Investment about their Steel Billets Making Plant (1.2 million ton annual capacity) and 300MW Coal-fired Power Plant during a meeting at Sindh Board of Investment office.
The project would be launched at Bin Qasim Town close to Pakistan Steel Mills. SPL is a subsidiary of Santex Group based in Czech Republic.
Muhammad Ashraf, Director SPL informed the meeting that a cooperation agreement with the suppliers has been concluded and project financing has been secured on the September 10, 2012 during the recent Brno International Trade Fair in Czech Republic. SPL has also paid the full amount of equity for the project and is planning to formally announce the project and financial close during the month of October 2012 at a befitting ceremony in Prague.
The 300MW Coal Base Power Plant has excess capacity of more than 150MW that would be made available to the national grid. It was also told that the project would be delivered on turn-key basis and completed by June 2015.
Murad Ali Shah appreciated SPL for their effort and assured complete support of the Government of Sindh in the project that shows the increased confidence of serious foreign investors in Pakistan’s economy and abundance of business opportunities.
SPL Team expressed their complete confidence in Pakistan and thanked the Minister Finance and Chairman, Sindh Board of Investment for their patronage and assurance of support for this venture.
On the occasion Brig. (R) Mohtaram of SPL, Secretary Finance Arif Ai Khan, Secretary Coal and Energy Eijaz Ali Khan, Secretary Energy & Power Sohil Rajput, Director General SBI Riazuddin, Director Coal Shahab Ansari and other officers were also present.
Czech group prepares to launch Steel venture in Pakistan
