Karachi: K-Electric was pleased to announce that the power utility has successfully acquired land at Port Qasim for its 700 MW Coal-Fired project which is to bring investment of over $1 Billion into Pakistan. K-Electric had entered into a Joint Development Agreement (JDA) with China Datang Overseas Investment Company and China Machinery Engineering Company last year and has achieved another milestone in acquiring the land needed for this important project.
JDA with the Chinese giants for the development of this project at Port Qasim has progressed considerably since it was signed. This would result in diversifying the fuel mix and lowering the generation cost resulting in positive impact on end consumer tariff.
CEO K-Electric Tayyab Tareen said that the acquisition of land is an important milestone for the coal project. He added that K-Electric is committed to its vision of generating and supplying affordable electricity for its consumers.