KARACHI - A Czech Republic investors’ group has planned to set up steel billets making plant with 1.2 million ton annual steel capacity and 300-MW coal-fired power plant in Bin Qasim Town, close to the Pakistan Steel Mills. A delegation of investors of the Santex Pakistan Limited (SPL), which is a subsidiary of Santex Group based in Czech Republic, informed this during their meeting with Sindh Finance Minister Syed Murad Ali Shah and Zubair Motiwala, Chairman Sindh Board of Investment on Sunday. Muhammad Ashraf, Director SPL informed the Sindh finance minister and Sindh Investment Board chairman that a cooperation agreement with the suppliers has been concluded and project financing has been secured on September 10, 2012 during the recent Brno International Trade Fair in Czech Republic. The SPL has also paid the full amount of equity for the project and is planning to formally announce the project and financial close during the month of October 2012 at a befitting ceremony in Prague.The 300MW coal-based power plant has excess capacity of more than 150MW that would be made available to the national grid. It was also told that the project would be delivered on turn-key basis and completed in two and a half years by June 2015.Sindh Finance Minister Murad Ali Shah appreciated SPL for their effort and assured complete support of the government in the project that shows the increased confidence of serious foreign investors in Pakistan’s economy and abundance of business opportunities.The SPL Team expressed their complete confidence in Pakistan and thanked the minister and the chairman for their patronage and assurance of support for this venture.On the occasion, Brig (r) Mohtaram of SPL, Secretary Finance Arif Ai Khan, Secretary Coal and Energy Eijaz Ali Khan, Secretary Energy and Power Sohil Rajput, Director General SBI Riazuddin, Director Coal Shahab Ansari and other officers were also present.This news was published in The Nation newspaper. Read complete newspaper of 24-Sep-2012 here.