Karachi : K-Electric (KE), formerly KESC in its press statement was pleased to announce that the company is on its way to facilitate setting up a 660 MW Green Field Coal-Fired Power Plant, which will be an achievement in itself as it is going to be the first in the history of Pakistan on the basis of Built-Operate-Transfer.
The press statement added that KE and Harbin Electric International (HEI) of China signed a Memorandum of Understanding in Harbin, China.
This MoU is for the co-development of the 660 MW green field coal fired power plant. This project will be developed, constructed and operated on a BOT (Built Operate and Transfer) basis which will be the first project ever conceived in the country by any private utility company.
The coal-fired power plant will enhance KE’s generation capability by 660 MW in a short span of time. KE and HEI will also jointly work towards the financial close of this project.
This nexus between KE and HEI will not only open doors for new foreign investment in Pakistan but will actually pioneer KE in delivering the Green Field Coal Fired Plant. This plant will be operated and maintained by the Chinese company (HEI) for a limited time, and will be then transferred to K-Electric (KE).