Nishat Chunian Power Limited (NCPL) has abandoned the development of a 660 megawatts coal-based power plant in Punjab province, according to a stock filing on Wednesday. The company in an earlier notice, dated July 09, 2014, had notified its shareholders about the issuance of a Letter of Interest (LOI) by Punjab Power Development Board (PPDB) for conducting feasibility study for construction of 1X660MW coal-based power plant project to be located in Punjab.
The project was to be set up by the Consortium with NCPL as its main sponsor. "In this connection, we wish to inform you that the aforesaid proposed project has been abandoned," said Muhammad Bilal, a company secretary at NCPL. The power firm left the venture "mainly due to logistics issues".
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