In a major development, the foreign investors of coal fired 1320 MW Port Qasim Electric Power Company have sought appointment of a focal person at the Federal Board of Revenue (FBR) to quick process the custom clearance of the machinery and equipment and resolution of taxation issues.
An official source said the demand of the Qatari and Chinese investors is actively considered by the government and decision is likely to be taken within the next few weeks. The power project is being financed by Al Mirqab Capital of Qatar and Sinohydro of China.
The government has already signed implementation agreement and power purchase agreement with the investors. The Port Qasim Authority has also signed land lease and port facilitation agreement with the investors. The evaluation of bids for the jetty is currently being under process.
The investors have assured the government that the financial close for the project will be achieved by December 2015. This is one of the major thermal power projects under the China Pakistan Economic Corridor. The government estimates 4290 MW power project under the corridor.
The power plant will have two generating units of 660 MW each and synchronization of the first unit is estimated to be completed by December 2017 with the commercial commencement of operations from June 2018.
A negligible instructive piece in addition to products of really veracious further fair censures made ! This without a doubt made them consider this stream, recognizes absolute
Comments are closed.