KARACHI: The Naveena Group has announced that it has achieved financial close with the government for its 50 MW Wind Power Project in Jhimpir, Thatta, Sindh.

The $63.9 million project will provide electricity to consumers at a price of US cents 4.7154/kwh from a platform of clean and green energy. The project is scheduled to come online by the end of 2021, said a press release.

The group has also entered into steel production and established a 300,000 tonnes per annum steel melting and re-rolling mill at Port Qasim, Karachi to produce steel rebars, under the name Naveena Steel Mills (Pvt) Ltd.

The company aims to begin production by the first quarter of 2020.

12MW grid energised

K-Electric (KE) has energised a dedicated 12MW grid along with a dedicated 132kV distribution system to facilitate Getz Pharma’s new manufacturing production facility in Korangi Industrial Area.

KE CEO Moonis Alvi said the utility company has planned to invest around $3 billion across the power value chain over the next few years including the 900 MW RLNG-based Bin Qasim Power-III, a 700MW coal-based independent power project, and transmission and distribution related projects.

Published in Dawn, November 21st, 2019