The Thar Coal Power Plant Reaches a $2 Billion Financial Target

Karachi: Pakistan’s largest coal-fired power initiative in Thar, which has anounced an investment of USD 2 billion (PPIB), as the main agency for the federal government announced today that this is a financial milestone.

The agreement was signed by Zhou Bo, chief of the Industrial and Commercial Bank of China (ICBC) in Karachi; Shah Jahan Mirza, managing director for PPIB as well as Meng Donghai’s CEO.

This macro-project is located in Thar with a capacity of 1,320MW. It was developed by China’s Shanghai Electric Corporation. It is a great milestone in the construction of China-Pakistan Economic Corridor (CPEC).

The Thar power plant makes use cutting-edge technology and modern equipment and has standards set by the Pakistan Environmental Protection Agency, World Bank, and International Finance Corporation (IFC). Economical power endeavor ranked second only to nuclear, the project is priced at PKR 4.98/kWh.

Thar power plant is expected to lower the annual cost of electricity by about PKR 200 Billion and is anticipated to save around USD 500 Million in foreign currency every year. This represents a big increase in national power generation capacity that relies on domestically produced fuels and will produce nine billion units of electricity per year!

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