MINISTRY OF Energy (Power Division)





 ISLAMABAD, 10th November 2017: The Implementation Agreement (IA) and Supplemental Implementation Agreement (SIA) of 330 MW Thar Coal based Power Project by M/s Hub Power Company Limited (HUBCO) signed today at Private Power and Infrastructure Board for materializing the financing of around 500 Million US$ as Project cost.  The documents have been executed by Mr. Shah Jahan Mirza, Managing Director PPIB and Ms. Fatima Maryam, Chief Financial Officer of HUBCO. The officials from  Government of Pakistan (GoP), Private Power and Infrastructure Board (PPIB) and representatives of HUBCO and Project Company i.e. M/s Thar Energy Limited (TEL) witnessed the signings.


This project is being developed at Thar Block-II, and will utilize indigenous Thar Coal for power generation. Letter of Support has been issued to the project by PPIB and currently it is at advanced stages of achieving Financial Closure. In order to ensure timely completion of Project, the Sponsors have started construction activities prior to achieving Financial Close. The development pace on the project is satisfactory, hence it is anticipated that the project is likely to start generation by end 2020.  


This project is among the lot of 12 coal and hydro power projects of around 11000 MW being facilitated by the PPIB under the framework of China-Pakistan Economic Corridor (CPEC). A new + 660kV HVDC transmission line under CPEC is also being implemented by PPIB to evacuate electricity from new power generation units in the south and to transmit it to the load centres up north.


Mr. Shah Jahan Mirza, Managing Director PPIB stated that this latest development reaffirms GoP's commitment of making country self reliant in power generation and free of load-shedding. He said the exploration of Thar Coal is opening a new chapter in the energy history of Pakistan and this dream has been realized through CPEC arrangement. CPEC is a real game changer in the field of energy because the prioritization of energy projects as part of the CPEC investments have enhanced the confidence of stakeholders in Pakistan's energy sufficiency. CPEC is covering the entire power sector value chain from fuel extraction (mining) to power generation and to end-user distribution. The development of these projects will be instrumental in generating economic activities as well as employment opportunities for the people of the area in particular and will also entail improvement of the basic infrastructure in the vicinity of these projects.




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