Engro Powergen counting on Chinese investors to fund USD 3bn – Alfalah Securities Limited

Karachi: Engro Powered, a subsidiary of Engro Corporation is likely to seek USD 3 billion funding from Chinese investors for its coal mining and electricity project at Thar after being refused from international lenders including the World Bank.

According to Alfalah Securities Limited, Thar coal reserves having estimated to have 175 billion tons of lignite can generate up to 100,000 MW of electricity for several decades and if utilized efficiently can become an important source of energy thus reducing the country’s dependence on energy import bill.