The Shanghai Electric, a Chinese company, will invest $4 billion at Thar Coal block one and will establish two more power plants of 1320 megawatts of electricity there.
As per details, a seven member delegation of Shanghai Electric called on Sindh Chief Minister Syed Murad Ali Shah at Chief Minister’s House in Karachi on Monday and discussed the project.
Shanghai Electric is carrying out mining and will establish two power projects at Thar coal block one.
Speaking on the occasion Syed Murad Ali Shah said that financial close of the project will be undertaken by the end of this year. He said the project will also generate employment opportunities. Back in the month of April, Chairman Pakistan People’s Party (PPP) Bilawal Bhutto Zardari had inaugurated the Thar coal power project.
The Thar coal power project has a capacity to generate 660 megawatts and consists of two power generation units of 330MW each.
Sindh Chief Minister Murad Ali Shah and PPP leaders as well as Sindh cabinet members were in attendance at the inauguration ceremony.
The project was completed under China-Pakistan Economic Corridor (CPEC) flagship public private partnership of government of Sindh. For this project, Sindh government has given the sovereign guarantee of seven hundred million dollars.
It is pertinent to mention here that for the succession of project, Mai Bakhtawer Airport, roads and bridges were also established besides provision of water for power generation.