ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday approved 8.12 cents per unit upfront levelised tariff for 1,320MW Port Qasim coal-based power plant for 30 years.

To be set up by Port Qasim Electric Power Company, a shareholding of Power Construction Corporation of China and Al-Mirqab Capital of Qatar put together by former Ehtesab Bureau chief Saifur Rehman, the project’s groundbreaking was performed by Prime Minister Nawaz Sharif on May 7 last year.

The project comprises of two 660MW worth $770 million each (1,320MW of about $1.54 billion). It would initially be a 660MW project which would be upgraded with addition of another plant.

The project also involves Sinosure insurance fee of 7 per cent on the total debt servicing which stands at 75pc of the project cost.

Nepra said it had also allowed a 150MW coal-based power plant of Garang Power Limited at a tariff of Rs8.4 per unit (8.64 cents per unit) for 30 years.

The determinations issued under section 31 sub section (4) of the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997. It said the regulator had introduced a new procedure of upfront tariff under which it cleared tariff in within 10 days after filing of application.

The prime minister had declared Port Qasim project as the first plant under the Pakistan-China economic corridor project in which Beijing would invest $33bn.

The project was expected to complete in 2017.

Published in Dawn, February 14th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

On writing

On writing

There is no ceremony or ritual that marks any person as a writer except the simple yet unimaginably significant act of starting to write.

Editorial

A way forward
Updated 17 Jul, 2024

A way forward

Before political leaders inflict more damage, they must give talks a chance.
Export delusions
17 Jul, 2024

Export delusions

THE trade ministry’s ‘plan’ to almost double exports to $60bn over the next three years is nothing more than...
Diversity in UK politics
17 Jul, 2024

Diversity in UK politics

THE recent UK elections have ushered in the most diverse parliament in the nation’s history. Under the leadership...
Banning PTI
Updated 16 Jul, 2024

Banning PTI

It appears that the govt and its backers within the establishment have still not realised that they are in uncharted territory.
Nato at 75
16 Jul, 2024

Nato at 75

EMERGING from the ashes of World War II, and locked in confrontation with the Soviet-led Communist bloc for over ...
Non-stop massacres
16 Jul, 2024

Non-stop massacres

Netanyahu is cunningly pretending to talk peace while mercilessly pounding Gaza. What is clear is that a return to pre-Oct 7 status quo is impossible.