Pakistan''s first local coal-fired project of 660MW to be established by Sindh Engro Coal Mining Company (SECMC) has reportedly achieved financial close with the help of federal government. The cost of the project is $2.1 billion of which cost of mining project is $900 million. The long awaited milestone materialised during a recent visit of the Pakistani team led by Chief Minister Punjab Mian Shahbaz Sharif and comprising Minister for Planning, Development and Reforms, Ahsan Iqbal and Secretary Water and Power, Younas Dagha to China.
"Engro''s 660MW coal-fired power and mining projects have achieved financial close," disclosed Secretary Water and Power, Younas Dagha in a chat with Business Recorder. Replying to a question, Secretary Water and Power said that the Chinese assured Pakistani delegation that financial close of following three power projects will be achieved in September: (i) 1320 MW Port Qasim coal power project to be established by Sinohydro Resources Limited, China/Al Mirqab Capital, Qatar, (ii) 1320 MW imported coal l power project, Sahiwal(Punjab) sponsored by Huneng Shandong Ruvi( Pakistan) Energy ( Pvt) Limited; and (iii) 300 MW solar power project Zonergy in Bahalwalpur.
Another member of the delegation who recently returned from Beijing said that Chinese are very hopeful that the electricity issue facing Pakistan will be resolved before the end of incumbent government''s term. He said financial close of 150 MW Sachal wind power project 99 MW wind power project of United Energy Pakistan (UEP) and 870 MW Sukki Kinari hydropower project has already been achieved. The project cost is 1.8 billion US dollars and it will be established on Kunhar River, district Mansehra, Khyber Pakhtunkhwa.
The Suki Kinari Hydropower project is one of the largest private sector hydropower initiatives in Pakistan. This project alone is expected to increase Pakistan''s existing available power generation capacity by more than five per cent. The project will be operational by June 2020. A consortium comprising Power Construction Corporation of China and Al-Qavi has been declared the lowest bidder for Rs 82 billion 1000-1200 MW RLNG-fired combined cycle power plant in Haveli Bahadur Shah of Jhang district.
According to the evaluation report, available at the website of Water and Power Ministry, the evaluated cost of the project offered by the lowest consortium was 7.921 cents per unit. Other parties which took part in the ICB offered the following rates: (i) ENKA Construction and Industry Co Inc and GE Consortium 8.134 cents per unit; (ii) JV of Harbin Electric International Co Ltd & Habib Rafiq (Pvt) Ltd 8.181 cents per unit; (iii) JV of Hyundai Engineering and Construction Co Ltd & Hyundai Eng. Co Ltd. And DESCON 8.728 cents; and (iv) JV of China Machinery Eng. Co (CMEC) & SEFEC 8.280 cents. The criteria for bid evaluation was Levelised Electricity Cost (LEC) as function of the energy (kWh) generated , EPC cost, LTSA cost and fuel cost in the first twelve years.
Comments
Comments are closed.