The implementation agreement for generating 225 MW was signed between Saif Power Ltd and the Private Power and Infrastructure Board (PPIB) on Friday.
Anwar Saifullah, Director of Saif Power signed the agreement on behalf of the company, while on behalf of the government the agreement was signed by Muhammad Yousuf Memon, Managing Director PPIB. Earlier the power purchase agreement and the gas supply agreement had been signed, thereby concluding the package of agreements under the power policy. The power plant will be located at Sahiwal, and capable of operating on dual fuel, will be based on combined cycle technology.
The sponsors of the project are Saif Telecom Ltd, Saif Textile Mills Ltd and Globecomm (Pvt) Ltd, and the power plant will be set up with an estimated cost of 170 million dollars. It is expected that the power complex will start supplying power to the national grid by the year 2010. Saif Power Ltd, is diligently processing its power project and is part of the portfolio of projects being processed by PPIB which are expected to add a total of 6,990 MW into the system by the year 2010.-PR