KARACHI: The Private Power and Infrastructure Board (PPIB) has issued a Letter of Support (LOS) to Siddiqsons Energy Limited for establishment of a 350MW imported coal-fired power project at Port Qasim, a press release said.

Nepra has already approved upfront tariff for this 350MW plant. The estimated cost of the project is $600 million and financial close is expected by first quarter of 2016.

Chief Executive Officer, Siddiqsons Energy Limited, A. Rahim Rafi, in a statement, said that low-cost electricity is extremely crucial for Pakistan’s economic growth and stability and coal-based energy production will address this issue.

Against the global trend where world is producing approximately 41 per cent of electricity through coal, Pakistan is producing less than 1pc electricity through coal despite it being the cheapest source of electricity, he said.

Published in Dawn, September 2nd, 2015

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