ISLAMABAD - Turkey-based company, Karkey has said that Pakistan will have financial savings of over Rs10 billion during the contract period of five years on account of power transmission and fuel transportation through power ship at Karachi. The details of the Mounted Power Project prepared by Turkish investor further disclosed that the cost of electricity would be Rs10 per Kwh through the Power ship Project. Break-up of financial savings disclosed that the transmission Savings over rental period comes to over Rs6.61 billion whereas fuel transport savings over Rental Period (5 years) stood at over Rs 5 billion. The National Transmission Dispatch Company (NTDC) losses range between 6-8 percent depending upon voltage level, transmission distance and transformation mechanisms. Through power ship transmission of electricity would save this loss and impact of transmission savings will be Rs6.61 billion over 5-year contract period. As per working of the Karkey, assuming that power is to be generated in Multan (945 km from Karachi); Pakistan Electric Power Company (Pepco) spends additional costs in transporting the fuel from Karachi to Multan. Considering a transport cost of Rs25 /ton /km and other potential losses in transport, there will be financial saving of Rs5.6 billion on account of fuel transportation. In the absence of power supply from where it is consumed, as the power ship would do, Pepco would have to deprive other parts of the country from electricity and send the power from its generation in the upcountry location. The power ship is directly connected to the Karachi Grid which will ensures a 93 per cent guaranteed physical supply of electricity. Having a 230MW power project right next to KESC Grid provides significant Electrical System Stability to significantly reduce the power failures, which had been occurring as a result of power supply from North of Karachi. The ship-mounted project is the largest investment by a Turkish company in Pakistan. Keeping in view the global economic recession and specific conditions of Pakistan, it is not easy to bring investors in Pakistan. In a recent International Competitive Bidding (ICB) carried out by PPIB for a 300 MW IPP, Eight parties purchased the bidding documents, however, one bid was received which was submitted by Karkey. The power ship project is entirely financed by International Banks, sources added.