Hub Power Company (Hubco) is in advanced stages of developing 1320 megawatts coal-fired power plant at an estimated cost of $2.4 billion, the company officials told Federal Minister for Water and Power Khawaja Asif on Friday.
"We are in advanced stages of a historic, multi-billion dollar project to develop 1320MW plant," said CEO Hubco Khalid Mansoor, who led a company delegation, which called on the federal minister and Secretary Younus Dagha in the federal capital for a briefing on Hubco's 2x660 megawatts coal project.
The facility, Mansoor said, would have two units of 660MW each, using imported coal as fuel and an ancillary jetty for coal transportation near the existing Hub plant. "The cost of the project is estimated at $2.4 billion and it would be one of the largest private-sector investments in Pakistan," he added. Other delegates included Hubco's Senior Vice President New Ventures Tahir Jawaid, Chairman coal project company - China Power Hub Generation Company (CPHGC) -Huang Yuntao and CEO CPHGC Zhao Yonggang.
The project would be developed via a joint venture (JV) company named CPHGC, which has already been incorporated under the laws of Pakistan. A part of China Pakistan Economic Corridor (CPEC), Hubco is the only power project under CPEC in Balochistan. The project is being undertaken through a joint venture between Hubco and China Power International Holding Limited (CPIH), a wholly-owned core enterprise of State Power Investment Corporation (SPIC), one of the five State Power Corporations in China.
"As an integral part of project development, Hubco has carried out an environmental and social impact Assessment (ESIA) study. The environmental concerns of the project identified in the ESIA study include the recommended mitigation measures which will be fully complied by Hubco during various phases of the project," said Mansoor. Chairman CPHGC Huang Yuntao told the meeting that: "With state-of-the-art equipment, the project would meet international standards. Liquid effluent treatment plants would also be installed at the project. The company would ensure that industrial effluents discharged by the project do not go beyond the limits set out by the NEQS, ensuring that there is no adverse impact on the marine ecology of the surrounding area".
A Hubco statement quoted Minister of Water and Power Khwaja Asif as lauding the role of Chinese firms in the development of energy infrastructure in Pakistan. He directed the officials concerned to remove bottlenecks the company was facing in its execution of various projects. Highlighting importance of the project, the minister said: "The project would bring immense socio-economic benefits for the country, specifically for Balochistan."
Projects of this magnitude, he said, were vital to bring inclusive growth and ensure development of the adjoining areas. The minister said the project would pave the way for a much-needed shift of Pakistan's current energy mix to achieve the objective of generating energy the country needed. The project would also set precedence for further future investments in the energy sector in Pakistan," he added.
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