An important step towards the successful implementation of the 1,124 MW Kohala Hydropopwer project in Azad Jammu and Kashmir under the CPEC has been reached. The signing of the implementation agreement would pave the way for the timely commissioning of the project. The 1,320 MW power plants would be connected to the Matiari-Lahore (high voltage continuous current) project of 660 kilovolts. PPIB is implementing the transmission line project, which is currently under construction and is expected to be operational by March 2021, under the CPEC. “PPIB CEO Shah Jahan Mirza and Thar Coal Block-I Power Generation Company Limited (TCB-I) Chief Executive Officer Meng Donghai signed the agreement to reach $1.912 billion in financing as a cumulative project cost,” said a statement released Monday. “The Power Purchase Agreement (AAE) of the project has already been signed.” ISLAMABAD: The Private Power and Infrastructure Board (PPIB) signed an implementation agreement with a Chinese consortium on Monday to develop and operate a $1.9 billion coal-fired power plant with a production capacity of 1,320 megawatts. Private Power and Infrastructure Board (PPIB) has entered into an agreement with Thar Coal Block-I Power Generation Company Limited (TCB-I) to build and operate a 1,320 MW coal-fired power plant in Thar. Shah Jahan Mirza, CEO of the PPIB, signed the agreement with TCB-I CEO Meng Donghai. The contract for the Aerating of the CPEC project has already been implemented.
Shanghai Electric Group Company would provide financing for the project and hoped to begin power generation by March 2021. Sino Sindh Resources Limited would be responsible for supplying coal to the plant, as the company already operates coal from Thar`s Block I coal basin. The 1,320 MW coal-fired power plant would be coupled with the Matiari-Lahore HG transmission line (high voltage continuous current). This would result in an annual saving of 75 billion euros. The company said in a statement to the London Stock Exchange that the agreement provided for the creation of an ad hoc entity for the development and implementation of the two projects, which would be financed at 75 percent and 25 percent equity. Director ppib informed the Board of Directors that PPIB has begun to deal with small hydropower projects for the first time, so it is necessary to conclude standard safety package agreements, including the Implementation Agreement (AI). The contract to purchase electricity from the project has already been executed. Based on modern supercritical technology, the project is being developed under the auspices of the Sino-Pakistan Economic Corridor (CPEC).