Chinese and German big companies make huge investment offer in Pakistan
Shares
KARACHI - Chinese and German big companies make huge investment offer in Pakistan K-Electric (KE).
KE has awarded the contracts for a 900MW Combined Cycle Power Plant and associated grids to Siemens AG and a Chinese construction contractor Harbin Electric, with an investment of $650 million at Bin Qasim.
The project will be built at KE’s Bin Qasim Power Complex and includes upgrades to associated transmission infrastructure. It will be dual-fired with RLNG (Re-gasified Liquid Natural Gas) as the primary fuel and represents one of the largest private-sector investments of its kind in the country’s power sector.
In line with the vision of improving KE’s generation fleet efficiency, the 900 MW BQPS-III is one of several planned projects to replace older plants with newer and more efficient units.
The contract was signed by Moonis Alvi, CEO KE, Dr. Keramat Fakhari, Executive Vice President Siemens and Guo Yu, Chairman Harbin Electric International Company Limited.
Although the project’s timeline has been affected due to a delay in the finalization of KE’s multi-year tariff, the power utility is determined to execute it as soon as possible with additional power made available by summer 2021.
The project is part of KE’s business plan formulated after a detailed study to review all possible solutions for increasing generation capacity.
