ISLAMABAD, May 26: Bids were opened here at a ceremony on Monday at the Private-Power and Infrastructure Board (PPIB) for setting up 500MW power generation projects located at Faisalabad and Dadu.

Ruba Energy Pakistan and Angro Chemicals Pakistan have expressed their interest in these projects.

The rates would be opened after a week after confirming the financial soundness and capacity of both the companies.

Speaking on the occasion, Minister for Water and Power Raja Pervez Ashraf said that the government was making all-out efforts to end the menace of load-shedding by adopting a rational mechanism of generating more electricity through private sector.

He said that due to measures being taken by the government, load-shedding would be eliminated by Aug 14, 2009.

He said the new government believed in transparency and for the first time in the history of Pakistan, bids of about $1billion projects were being opened in the presence of media.

He informed that bids for another 1200 MW power projects have been invited and would be opened on June 30.

The ceremony was attended by board’s Managing Director Fayyaz Elahi, all directors of PPIB, and senior government officials.