ISLAMABAD, Oct 16: Investors from the UK, US and UAE here on Thursday showed interest in investing in the fast-track private power projects advertised by the government for international bidding.

A pre-bid meeting was convened at the Private Power and Infrastructure Board (PPIB) to address investors’ queries and concerns regarding IPPs and rental projects establishment and the process involved.

Federal Minister for Water Raja Pervez Ashraf, who presided over the meeting, told the participants that Pakistan’s power sector had a great potential.

“We are currently facing challenges of power shortages and wish to turn these challenges into opportunities for the prospective investors.”

PPIB Managing Director Fayyaz Elahi and potential investors were also present. The fast-track private power projects would be commissioned in 2009-2010.

The meeting was held in the wake of the “fast-track private power projects” advertised for international competitive bidding on Sept 26.

These projects are classified into two categories: IPP/rental power projects to be commissioned by the end of 2009 and IPP projects to be commissioned by the end of 2010 for which request for proposals were issued by the PPIB after an approval of the Economic Coordination Committee (ECC) of the cabinet.

An official announcement issued at the end of the meeting stated that investors showed an encouraging response to this initiative and 22 requests for proposals have been purchased by the prospective investors which include one request for package-I IPP, 10 for package-I rental projects and 11 for package-II IPPs.

The IPP projects above 100 MW each and rental power projects over 50 MW each under package-I are expected to be completed by the end of 2009 while, IPPs under package-II (projects above 100 MW each) are expected to be completed by the end of 2010.

Bidders are free to offer the technology of their choice to be based on RFO/gas/coal to be located in the jurisdiction of Pakistan Electric Power Company (Pepco).