AGL 39.94 Decreased By ▼ -0.06 (-0.15%)
AIRLINK 129.04 Decreased By ▼ -0.02 (-0.02%)
BOP 6.86 Increased By ▲ 0.11 (1.63%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.64 Increased By ▲ 0.09 (1.05%)
DFML 41.00 Increased By ▲ 0.18 (0.44%)
DGKC 82.85 Increased By ▲ 1.89 (2.33%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 73.69 Decreased By ▼ -0.74 (-0.99%)
FFL 11.87 Increased By ▲ 0.13 (1.11%)
HUBC 109.60 Increased By ▲ 0.02 (0.02%)
HUMNL 14.26 Increased By ▲ 0.51 (3.71%)
KEL 5.25 Decreased By ▼ -0.06 (-1.13%)
KOSM 7.62 Decreased By ▼ -0.10 (-1.3%)
MLCF 39.10 Increased By ▲ 0.50 (1.3%)
NBP 64.35 Increased By ▲ 0.84 (1.32%)
OGDC 193.25 Decreased By ▼ -1.44 (-0.74%)
PAEL 25.66 Decreased By ▼ -0.05 (-0.19%)
PIBTL 7.32 Decreased By ▼ -0.07 (-0.95%)
PPL 153.89 Decreased By ▼ -1.56 (-1%)
PRL 25.45 Decreased By ▼ -0.34 (-1.32%)
PTC 17.40 Decreased By ▼ -0.10 (-0.57%)
SEARL 78.50 Decreased By ▼ -0.15 (-0.19%)
TELE 7.72 Decreased By ▼ -0.14 (-1.78%)
TOMCL 33.50 Decreased By ▼ -0.23 (-0.68%)
TPLP 8.39 Decreased By ▼ -0.01 (-0.12%)
TREET 16.40 Increased By ▲ 0.13 (0.8%)
TRG 56.80 Decreased By ▼ -1.42 (-2.44%)
UNITY 27.50 Increased By ▲ 0.01 (0.04%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,521 Increased By 75.6 (0.72%)
BR30 31,085 Decreased By -104.7 (-0.34%)
KSE100 98,630 Increased By 831.9 (0.85%)
KSE30 30,770 Increased By 289.2 (0.95%)

K-Electric issued a press statement in which the company notified that it entered into a binding tripartite Joint Development Agreement (JDA) with China Datang Overseas Investment Company (CDTO) and China Machinery Company (CMEC), for the development of a 700MW (2x350 MW) coal fired power project at Port Qasim.
The agreement further consolidated the understanding reached between the three parties earlier this year. Considerable progress had been made on the project during the last few months. The agreement was a major step forward towards the finalisation of the flagship project. The project aims to bring investment of over US one billion dollars into Pakistan. This would not only help the country in diversifying the fuel mix but also lower the generation cost benefiting the end consumer.
CEO K-Electric, Tayyab Tareen along with the senior management received the high level delegation from CDTO and CMEC which included the President of CDTO Duan Zhongmin and Vice President of CMEC Wang Tianyi. Sharing his thoughts, KE CEO Tayyab Tareen said, "It gives us immense pleasure to join hands with companies like CDTO and CMEC for the development of this project of critical importance. KE is developing new generation projects at highest priority. This particular project will go a long way in addressing the power needs of the country, specifically the people of Karachi."
Duan Zhongmin, President CDTO stated, "As one of the largest Chinese power generation groups, China Datang shall always attach great importance to the power sector development of Pakistan. China Datang shall be fully committed to work closely with CMEC and K-Electric towards the completion of Port Qasim 2x350MW coal-fired power plant in a timely manner, which shall contribute to the solution of energy shortage, to boost the economy, and to serve the people of Karachi."
Wang Tianyi, Vice President of CMEC also added, "Being in Pakistan for more than 30 years, CMEC has always been devoting itself in improving the energy infrastructure of Pakistan. We, as a shareholder and EPC contractor, are highly optimistic to deliver a best-in-class power plant in a timely manner for the people and the prosperous of the city of Karachi."
CDTO is a wholly-owned subsidiary of China Datang Corporation (CDT), a Fortune 500 listed company with approximately 120,000MW under its portfolio. The company specialises in providing technical and professional expertise in power production, particularly in power-related coal mine development. CMEC is a renowned engineering contractor specialising in construction of power projects in generation, transmission and distribution sectors.-PR

Copyright Business Recorder, 2015

Comments

Comments are closed.