The 80 million dollars 136MW power plant, set up by the United States-based Pakistan Power Resources (PPR) and the Associated Group (AG) in Bhikhi, Punjab, has started supplying 20MW of power to the national grid.
The project, one of the fastest-implemented large-scale power plants of its kind in the country, uses aero-derivative gas turbines and was awarded late last year through an international competitive bidding process, Fasih Ahmed, Director, Associated Group, said.
Talking to Business Recorder, Fasih said Pakistan Power Resources project would help Pakistan meet its rising energy requirements. Full commissioning of the plant is due within the current year, he added.
About the Jamshoro Joint Venture Limited (JJVL), Fasih said JJVL had been recognised once again by its peers in the global energy world. JJVL is a finalist for the Rising Star Award at the ninth annual Platts Global Energy Awards. The winner will be announced on November 29 at a ceremony in New York City.
Finalists have been selected from over 200 nominations. Last year, JJVL was a finalist for the Energy Pioneer and Downstream Business of the Year awards. "We''re honoured to have been recognised as a finalist in a category representing some of the biggest energy companies in the world," said Fasih Ahmed, who is also director of JJVL. "We are continuing our efforts to augment local LPG production to ensure the availability of affordable product throughout the Pakistan," Fasih said.
He said JJVL was Pakistan''s single largest producer of LPG and represents an investment of 100 million dollars in the sector through its existing 200MMscfd and upcoming 125MMscfd LPG production plants in Hyderabad. JCR-VIS Credit Rating Company Limited earlier this year awarded JJVL an entity rating of A+/A-1 and secured debt rating of AA-. Platts, a division of McGraw-Hill Companies, is a leading global provider of energy and metals information with nearly a century of business experience. The government uses the Platts-published Saudi Aramco Contract Price to determine the price of local LPG production each month under a formula implemented last January, Fasih added.
On Pakistan GasPort Limited LNG Project, Fasih said Pakistan GasPort Limited''s Offshore LNG import terminal and LPG extraction project is an undertaking of Associated Group (AG) which is assuming all project costs and risks.
The 162 million dollars project being situated at Port Qasim, Karachi is expected to be commissioned by November 2008. It will have the capacity to produce up to 1,000 metric tonnes of LPG and add up to 400mmscfd of natural gas to Pakistan''s total availability. US-based Mustang Engineering and Abu Dhabi''s AdYard are working on the project alongside China Harbour Engineering Company, Fasih added.
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