Coal power in Pakistan gets $700 million investment
China and the United Arab Emirates will help Pakistan boost its electricity output by expanding coal power in the country.
Burj Power, a development and advisory firm out of the UAE, inked an agreement with China's Harbin Electric International Co Ltd., which will be the technical lead. The project's price tag will range somewhere between $650 million and $700 million.
The group is building four coal-based power plants all at the Port Qasim capable of 125 megawatts (MW) each. The power could be online as soon as 2016.
Pakistan's state-controlled power producer, Karachi Electric Supply Co, will purchase power from the plants. The purchase agreements are still being negotiated.
Burj Power is also developing some wind power projects in Pakistan.
Harbin has an established base of over 30,000 MWs of thermal power plants and was also the EPC contractor of recently completed Bin Qasim CCPP that is producing 560 MWs for KESC.-PR
The agreement was was formalized during a signing ceremony at Karachi's Marriot Hotel. Photos are on Burj Power's Facebook page.