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Financial close deadlines extended for CPEC power projects

https://nation.com.pk/15-Mar-2018/financial-close-deadlines-extended-for-cpec-power-projects

March 15, 2018


ISLAMABAD - Private Power and Infrastructure Board (PPIB) Wednesday allowed extension in Financial Closedeadlines of two 660 MW Thar coal based power projects and 660 kV HVDC Matiari-Lahore Transmission Line being processed under China Pakistan Economic Corridor (CPEC).

The approval for the extension was given by the 115th meeting of the PPIB held here.

Chairing the meeting, Minister for Power Awais Ahmed Khan Leghari said that the government realizes the importance of transmission lines in complimenting the upcoming power generation projects.

"Current transmission network needs to be strengthened and made reliable to support government's aim of achieving sustainability in the system," he said.

He emphasized that the government was working on upgrading the existing transmission network to make it more reliable and efficient and NTDC has been asked to take the necessary measures.

"At the same time private sector is being encouraged to contribute in network expansion," he said.

"As a result, so far, Pakistan's first ever HVDC Transmission Line project has already been initiated in the private sector under China-Pakistan Economic Corridor (CPEC) while several other projects are being planned to launch through international competitive bidding," he said.

The board approved extension in Financial Close deadline of +660 kV HVDC Matiari-Lahore Transmission Line being processed under the CPEC .

The board also allowed extension in Financial Close deadlines of thar coal based power projects being processed under CPEC which include 330 MW Project by Thar Energy Limited and 330 MW Project by ThalNovaThar Pvt Ltd.

The minister said that the current government believed in the policy of facilitating investors, and extending full support to them for processing and timely completion of their projects.

The minister remarked that sustainability in power system is a must for ensuring a balancing between demand and supply situation.

"Merely, providing additional megawatts would not be sufficient to gain real goals. Pakistan's future lies in the indigenous and renewable energy for which serious efforts are being put in. National Electricity Plan and a new Energy Policy are steps to consolidate these efforts which will act as a guide for future capacity expansions as well as choice of fuels etc," the minister said.

PPIB Managing Director Shah Jahan Mirza briefed the board on various projects being implemented by PPIB under the CPEC .

He said that PPIB is successfully meeting the challenging and ambitious timelines of the current government for addition of huge quantum of power generation capacity in the national grid.

The meeting was attended by Minister of State for Power Ch Abid Sher Ali, Yousaf Naseem Khokhar, Secretary Ministry of Energy (Power Division), Arif Ahmed Khan, Secretary Ministry of Finance, Shoaib Ahmad Siddiqui, Ministry of Planning, Development & Reform, Muzammil Hussain, Chairman WAPDA representatives of Ministry of Energy (Petroleum Division), Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan provinces and AJ&K, a private sector member, besides, executives director and directors of PPIB and other senior government officials

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