Port qasim to get 305 MW power project

Islamabad: Progas Pakistan and KUB Malaysia Berhad have won the bid to construct 305MW Independent Power Project at Port Qasim, Karachi.

The present government had invited investors to establish power projects in Pakistan on a fast track basis, consisting of two packages package-A for IPP projects of 1000 MW and package-B for rental power projects.

According to Private Power and Infrastructure Board (PPIB) here Monday, out of the twelve (12) bids received, three bids of Progas Energy, Cavalier Energy and Ruba Energy Pakistan were approved for construction of three independent power projects with total power generating capacity of 929.06 megawatt and two bids of Karkey, Karadeniz Eledkrik Uretim A.S and Walters Power International were approved for renting of two power generators of 418.802 MW capacity.

Meanwhile in a statement, High Commissioner for Pakistan in Malaysia, Lieutenant General Tahir Mahmud Qazi (Retd) has encouraged the Malaysian Power Sector Companies to invest in Pakistan.

He said Pakistan offers one of the best investment regime in power sector which includes transparent regulatory environment, available infrastructure, predictable long term tariff, mechanism to cover the risk of exchange rate variation, available GoP's guarantees and protection against change in duties & taxes and political risks.