PPIB expects $8 billion investment in power sector

The Private Power and Infrastructure Board (PPIB) is expecting dollars eight billion investment in power sector in five years. The decision to present three thermal power projects of 1200 MW for International Competitive Bidding (ICB) was the part of strategy evolved by the government to attract investment in power sector, said an official here.
The three projects which would be advertised in the national and international media on April 20 include 400 MW Uch-II Power Project based on low BTU gas, 450 MW Faisalabad dual-fuel (gas/oil) Power Project and 350 MW Lahore dual-fuel Power Project which would attract foreign investment of dollars 3.5 billion in power sector.
The official said Minister for Water and Power Liaquat Ali Jatoi who chaired the meeting of PPIB board the other day also constituted a four member committee to select financial advisors for above mentioned three projects and submit its report within a week.
The board was informed the AES -USA has submitted its interest to set up 1,000 MW project based on Thar coal in the Sindh province, which would attract investment of over dollars one billion. It was also apprised the Globeleq UK has also announced to invest dollars one billion in the Pakistan for setting up of new power project.
The board was apprised that Brazil Energy, General Electric, Al- Ghorair, Bestway Group, and Marubeni have also showed their interest to participate in the upcoming projects through ICB.
The board approved the evaluation and ranking criteria for the pre-qualification and ranking of the bidders. The minister emphasised the procedures should be made more investor friendly and board meeting should be held frequently for early processing /approval of the projects.
The minister also reiterated that in order to provide level playing field and transparency, the projects should only be awarded on the basis of ICB.
The minister informed the board about the successful road shows carried out in Dubai on 20 to 21 February and in London on March 2 to 3 to solicit investment. The Board was also informed the Road Shows received an excellent response from prominent investors, lenders, contractors, consultants, equipment suppliers, financial advisors, etc.
Some of the potential investors which participated in the Road Shows included General Electric (USA), Globeleq (UK), International Power (UK), AES (USA), Wartsila (Finland), Bestway Group (UK), Marubeni (Japan), Mitsui (Japan), Al-Ghorair (UAE), Emmar (UAE), Al-Futtaim (UAE), Bin-Zayed Group (UAE), National Power (UK), Actis (UK), Brazil Energy, Standard Chartered Bank, BHP, Shell, Fauji Foundation, Saigol, Descon, Ibrahim Group, Sapphire, Rupali etc.