CHENGDU: Pakistan’s Hub Power Holdings Ltd (Hubco) has obtained $1.5b financing from a consortium of banks led by China Development Bank for a coal-fired power plant which comes under China-Pakistan Economic Corridor.
Construction of the coal-fired power plant commenced in March this year and is costing $2b to build, said a Xinhua News agency report. The plant has a total capacity of 1.32 gigawatts, which includes two coal-fired power units of 660MW each.
The plant is being setup by China Power Hub Generation Company in collaboration with Hubco and is expected to commence operations in August 2019. It will reportedly generate 9 billion kilowatt-hours of electricity, which will meet the power needs of 4m Pakistani households and lead to creation of 10,000 jobs in the country.
