Matiari Transmission Line Project: HBL and NTDC ink MoU
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ISLAMABAD: (APP) National Transmission and Despatch Company Limited (NTDC) and Habib Bank Limited (HBL) has signed a term sheet for financing of Rs. 10.4 billion for construction of 500 kV Double Circuit Transmission Line from Port Qasim to Matiari for evacuation of 1320 MW power from under construction coal fired power plant at Bin Qasim, Karachi.
MD NTDC Dr Fiaz Ahmad Chaudhry and GM Corporate Banking HBL Mr Saulat Ali Khan signed the term sheet during a ceremony held at WAPDA House, said a press release .
Transmission Line project with the PC-1 Cost worth Rs 12,979 million will be completed in two phases. In phase-I, 45 KM long 500 kV double circuit transmission line will be constructed from Port Qasim Coal fired Power Plant to HUB-Jamshoro Transmission Line circuit-I. Whereas in phase-II ,135 KM long transmission line will be constructed from interconnection Hub-Jamshoro to Matiari.
Both the phases are likely to be completed in March 2017 and Sep 2017 respectively, as part of the government`s efforts to mitigate load shedding from the country. Hence, 1320 MW power by coal fired power plants will be added to the national grid.
Finance Director NTDC Mr Hammad Ahmad and Dy GM Corporate Banking HBL Mehrukh Burki along with other officials of NTDC were also present on the occasion.
