Port Qasim-Matiari Transmission Line Project: HBL, NTDC sign term sheet for Rs 10.4 billion financing

The National Transmission and Despatch Company Limited (NTDC) and the Habib Bank Limited (HBL) have signed a term sheet for financing of Rs 10.4 billion to construct 500 kV Double Circuit Transmission Line from Port Qasim to Matiari for evacuation of 1320 MW power from the under-construction coal fired power plant at Bin Qasim, Karachi.
MD NTDC, Dr Fiaz Ahmad Chaudhry and GM Corporate Banking HBL Saulat Ali Khan signed the term sheet during a ceremony held at WAPDA House, Lahore on Wednesday. The transmission line project with the PC-1 Cost worth Rs 12,979 million will be completed in two phases. In phase-I, 45 km long 500 kV double circuit transmission line will be constructed from Port Qasim Coal-Fired Power Plant to Hub-Jamshoro Transmission Line Circuit-I. While in phase-II, a transmission line of 135 km long will be constructed from interconnection Hub-Jamshoro to Matiari. Both the phases are likely to be completed in March 2017 and September 2017 respectively, as part of government's efforts to mitigate loadshedding from the country. Hence, 1320 MW power by coal-fired power plants will be added to the national grid. Finance Director NTDC Hammad Ahmad and Dy GM Corporate Banking HBL Mehrukh Burki along with other officials of NTDC were also present on the occasion.