KARACHI: K-Electric (KE) has signed a contract with a joint venture of Chinese and German firms to build a 900 megawatts dual-fired power plant with an investment of $650 million.
The contract was signed in Chinese city Harbin by KE CEO Moonis Alvi, Siemens Executive Vice President Dr Keramat Fakhari and Harbin Electric Chairman Guo Yu. KE said that despite the delays in the project timeline, the project will be executed on a priority basis and additional power will be added to the grid by summer 2021.
The project, BQPS-III of 900 MW, will be built at KE’s Bin Qasim Power Complex and includes upgrades to associated transmission infrastructure. It will be dual-fired, with the primary fuel being re-gasified liquid natural gas and will represent one of the largest private-sector investments of its kind in the country’s power sector.
In addition to this, K-Electric is also discussing with the government to provide additional 500MW from KANUPP-2 and KANUPP-3. “The 900 MW BQPS-III is essential in meeting Karachi’s future energy demands. An investment of the size and magnitude of BQPS-III is a testament to KE’s commitment to improving the reliability of power supply for its customers,” said Moonis Alvi.
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