ISLAMABAD, Sept 6: An implementation agreement for setting up of a 225-mw thermal power plant at Balloki was signed here on Wednesday between Orient Power Company and the government of Pakistan.
The chief executive officer Nadeem Babar signed the agreement on behalf of Orient Power Company and Private Power and Infrastructure Board (PPIB) managing director Khalid I. Rehman signed it on behalf of the government of Pakistan.
The signing ceremony was witnessed by Water and Power Minister Liaquat Ali Jatoi and senior officials of the ministry, PPIB and Orient Power Company.
The power purchase agreement and the gas supply agreement were earlier initiated by National Transmission and Dispatch Company and Sui Northern Gas Pipeline, respectively.
Orient Power was the first independent power producer to initial the agreements under the Policy for Power Generation Projects, 2002. This project would be capable of operating on dual-fuel, based on combined cycle technology, would use gas as fuel, and would be established at an estimated cost of $170 million.
The power plant was expected to provide electricity by 2008.
Mr Jatoi on the occasion said the government was making all efforts to induct power into the system to support rapid economic development in the country.
He said due to economic and investment-friendly policies, the private sector had expressed its interest in investing in the country, particularly in the power sector to secure investment.
Mr Jatoi said recently the PPIB advertised seven raw site hydropower projects internationally, soliciting proposals for these projects.