Russia to provide $1b to PSM: BOI chairman


Sergey Abutidze, Deputy General Director for Development, JSC TECHNOPROMEXPORT Russia called on Chairman BOI, Mohammad Zubair and discussed the Projects of Conversion to Coal of Muzaffargarh Thermal Power Station, Establishment of new 600 MW Coal Fired Thermal Power Station at Jamshoro” and Rehabilitation/Up-gradation of the Pakistan Steel Mills (PSM).
Sergey Abutidze apprised the Chairman BOI that Technopromexport (TPE) is one of the largest, specializing in setting up electric power stations.
The TPE has undertaken projects in Pakistan that include installation of Units 1, 2 & 3 at the Muzaffargarh (660Mw) in 1993 – 95 and Guddu (220 Mw) Thermal Power Stations in 1981 with financial assistance of the former Soviet Union.
He said that TPE are keen to undertake projects in Pakistan and able to provide complete turnkey solutions and can also assist customers in obtaining loans/financing for some projects.
He said further in June 2010, a TPE team visited WAPDA and PEPCO where TPE was requested for assistance in the rehabilitation of the three Russian Units installed at MTPS (Muzaffargarh Thermal Power Station).
“Frame Work Cooperation Agreement” between JSC Technopromexport and GENCO Holding Company was agreed and successfully arranged funding for the MTPS project up to EUR 500 million for the rehabilitation and conversion of MTPS from Furnace Oil to Coal.
The chairman offered the TPZ that the construction of new coal-fired unit 500-600MW with technical concept of 500MW coal fired unit can be considered as potential project.
While talking about the financial & technical assistance for rehabilitation/ up-gradation of the Pakistan Steel Mills (PSM), he appreciated the role of Russian Government for assistance up to USD 500 Million along with the technical assistance for this purpose on a government-to-government basis.


  1. Privatize Pakistan Steel and other power houses, to save these white elephants drowning Pakistan with them. It does not matter how many more billions of dollars are poured into these bottomless black holes, Its a total loss. Last govt had robbers heading such departments and the present govt is replacing these robbers with scientific fraudsters.

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