Sindh government and Kuwaiti company Enertech Holdings signed a Memorandum of Understanding (MoU) for investment in power sector in the province. Under the MoU, the Kuwait Company Enertech Holdings would invest in Waste to Energy projects, starting with a 50MW power project in Karachi that may be scaled upwards to a mutually-agreed capacity and also in other municipalities of Sindh province that are mutually-identified and agreed for implementation.
Under the MoU, the Sindh government and Kuwaiti company will develop strategic partnership in the 'Investment Memorandum' to ensure that the projects are developed on fast track basis. The EnerTech shall complete all technical studies, including interconnection studies, geo technical and topographical studies, environment impact assessment and feasibility studies.
Under the MoU, the Sindh government will have an option to enter into an equity partnership with Enertech against the land provided for the projects. The Secretary Investment Ahsan Mangi, on behalf of the Sindh government, while CEO of Enertech Holding Kuwait Abdullah Al Mutairi, on behalf of the Kuwaiti company, signed the MoU at a signing ceremony.
The signing ceremony was witnessed by Sindh Chief Minister Syed Murad Ali Shah. The other attendees included: Minister Energy Imtiaz Shaikh, Minister Local Government Saeed Ghani, Adviser to the CM Murtaza Wahab, Chief Secretary Mumtaz Shah, Chairperson P&D Naheed Shah, PSCM Sajid Jamal Abro.
Consul General of Kuwait Mohammad Khalid Abdullah Al-Khalidi, Chief executive Enertech Pakistan Yasser Malik and others. In collaboration with the provincial government, the Kuwaiti company will liaise with all relevant provincial and federal authorities to get required approvals for development of the projects said an official statement issued on Monday.-PR
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