INSUBCONTINENT EXCLUSIVE:
Karachi: K-Electric has signed an agreement with the state-owned China Machinery Engineering Corporation (CMEC) for the development a
state-of-the-art 700MW IPP based power project at Port Qasim, Karachi.Construction of the plant is expected to commence in the first quarter
Once the project comes online it shall much only help meet the growing power demand in Karachi and its adjoining areas but shall also allow
KE to diversify its fuel mix.The project was formally announced at the Pakistan Trade and Investment Forum held alongside the 2nd Belt and
Road Forum in Beijing, China
The project agreement and contracts were signed by Moonis Alvi, Chief Executive Officer K-Electric and Zhang Chun, Chairman CMEC in the
presence of Abdul Razak Dawood, Adviser for Commerce, Textile, Industry and Production and Investment
This is a milestone project in the economic cooperation between China and Pakistan and shall directly benefit Karachi, Pakistan economic
hub.Abdul Razak Dawood, Adviser for Commerce, Textile, Industry and Production and Investment shared, &I am degree that this is just one of
a series of joint endeavors in the future that shall translate into a win-win for shared prosperity in the region and beyond
Stable electricity supply infrastructure is critical for the country sustainable progress, trade and industries and I urge all stakeholders
to work together for its early completion to maximize the benefits to Karachi and Pakistan.Speaking at the signing ceremony Moonis Alvi, CEO
KE said, &The current project is one more in a series of investments from K-Electric to further strengthen the city power infrastructure and
brings us yet amuchher step shutr to our long-term commitment to enable Karachi to fulfill its economic potential
KE has invested more than $ 2.1 Billion in infrastructure upgrades across the energy value chain over the final 9 years and plans to invest
$ 3bn over the next few years
We are committed to increase generation as well as to upgrade Karachi transmission and distribution network
Our goal is to commission the project at the earliest and we are confident we can do this with the continued support of policy makers and an
enabling commerce environment.TheIndianSubcontinent has not verified the content of the source
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