Shanghai Electric to invest $4bn in Thar power plants

Shanghai Electric, a Chinese company, will invest $4 billion for the establishment of two more 1,320MW power plants at Thar Coal Block-I, Radio Pakistan reported.

As per details, a seven-member delegation of Shanghai Electric called on Sindh Chief Minister Syed Murad Ali Shah at the Chief Minister’s House on Monday to discuss the projects.

Speaking on the occasion, CM Murad Ali Shah said the financial close of the project would be undertaken by the end of this year, adding that the projects would significantly generate employment opportunities in the province.

In April, Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari had inaugurated the Thar Coal Power Project.

The project has a capacity to generate 660 megawatts and consists of two power generation units of 330MW each.

Sindh Chief Minister Murad Ali Shah and other PPP leaders, along with Sindh cabinet members, had attended the inauguration ceremony.

The project was completed under the China-Pakistan Economic Corridor (CPEC) through public-private partnership. For this project, the Sindh government had given a sovereign guarantee of $700 million.

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