KARACHI: The K-Electric has acquired land in Port Qasim to start 700MW coal-fired project, which will likely to grab $1 billion investment.
Last year, the K-Electric, China Datang Overseas Investment Company and China Machinery Engineering Company joined hands to build the plant. The agreement with the Chinese giants for the development of this project at Port Qasim has progressed considerably since it was signed. This would result in diversifying the fuel mix and lowering the generation cost resulting in positive impact on end consumer tariff.
K-Electric CEO Tayyab Tareen said that the acquisition of land is an important milestone for the project. He added that K-Electric is committed to its vision of generating and supplying affordable electricity for its consumers.
