AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, February 17, 2015 (PPI-OT): Engro Powergen Limited (EPL) signed a joint venture agreement with China Machinery Engineering Corporation (CMEC) for development of 2 x 330 MW coal based power plant in Thar Block II. The joint venture company, Engro Powergen Thar Limited (EPTL) will enter into a coal supply agreement with Sindh Engro Coal Mining Company (SECMC) for purchase of 3.8 metric tonnes per annum coal which will be used for power generation.
The joint venture agreement was signed by Mr. Shamsuddin A. Shaikh – CEO EPL and Mr. Zhang Chun – President CMEC. The ceremony was witnessed by Mr. Syed Tariq Fatemi Honourable Minister of State for foreign affairs, Mr. Zaffaruddin Mahmood Special Envoy CPEC , Mr. Shahjahan Mirza – MD PPIB and Mr. Ejaz Ahmed Khan MD TCEB. The ceremony was also attended by other shareholders, Thal Limited and Habib Bank Limited.
At the occasion Mr. Shaikh and Mr. Zhang Chun briefed the Pakistan delegation on the progress being made on the project for both mining and power. Mr. Zhang Chun on welcoming the delegation said that “CMEC is a pioneer in developing power projects in Pakistan and we see Thar project to be the key to solving future energy crises in Pakistan”.
Mr. Shaikh further explained the key milestones achieved in Thar and said “this joint venture between the two companies shows our resolve and commitment to see this project completed by 2017. We have successfully achieved all milestones and are now actively working together to solve Chinese financing issues”.
Mr. Fatemi appreciated the efforts both companies have put in and said “this is a landmark occasion which highlights corporation between the two countries and shows the resolve to solve the energy crises which Pakistan is facing”. He further added that this is the “first tangible fruit out of the China Pakistan Economic Corridor”.
For more information, contact:
Shaikh Ahmed
Engro Corporation Limited
8th Floor, Harbour Front Building, HC # 3,
Marine Drive, Block 4, Clifton
Karachi, Pakistan
Phone: +92-21-111-211-211
Fax: +92-21-35295948
Cell: +92-302-8275133
Email: sazaidi@engro.com, media.relations@engro.com
Website: www.engro.com