Investor Presentaiton
ANNUAL REPORT
P
Private Power and Infrastructure Board
ANNUAL REPORT
Thar Coal based Power Project at Port Qasim
by M/s Lucky Electric Power Company Limited
Private Power and Infrastructure Board
Thar Coal based Power Project at Thar Block-II
by M/s Siddiqsons Energy Limited
Lucky Group is actively developing the project with the support and guidance of PPIB. The Project was
earlier issued Letter of Support in June 2015 for developing the 660 MW Power Project at Port Qasim
based on imported coal. However, in accordance with the directions of PPIB Board to reduce
dependence on imported coal, M/s Lucky Electric Power Company Limited agreed to develop the
Project on Thar Coal. Accordingly, the Project was converted to local Thar coal on the same site (Port
Qasim), through an amendment in LOS. The Project will utilize coal from Thar Block-II. Lucky would be
a model project in a way that it will use Thar coal but will be located in Port Qasim, Karachi.
Salient features of project are as follows:
> Project Company: Lucky Electric Power Co. Ltd
>
Sponsors:
>
Location:
>
Fuel:
>
Capacity:
>
Project Cost:
>
Applicable Policy
Lucky Cement Limited
Port Qasim, Near Karachi
Thar Coal from Block-II
660 MW
US$ 1,080.9 million
2015
Key milestones achieved
Issuance of LOI:
Issuance of LOS:
FC Date:
11.02.2015
08.06.2015
25.06.2018
Initially the project was based on imported coal with a capacity of 350 MW, however after the directives
of PPIB Board to decrease the dependency of imported fuels, M/s. Siddiqsons Energy Limited decided
to convert imported coal based power project to local Thar coal. Subsequently, the location of the
project was changed from Port Qasim, Karachi to Thar Block-II, Sindh. The Project has accepted revised
upfront Thar coal tariff by NEPRA.
Salient features of project are as follows:
> Project Company: Siddiqsons Energy Limited
Sponsors:
Key milestones achieved
Issuance of LOI:
Siddiqsons Limited, Harbin Electric International Co. Ltd.
Thar Block-II
Issuance of LOS:
13.02.2015
31.08.2015
>
>
>
Capacity:
Project Cost:
Applicable Policy
330 MW
Signing date of PPA:
Signing date of IA:
07.03.2018
08.03.2018
US$ 410.29 million
2015
A A A A A A
Location:
Current Status:
The Project achieved FC in June 2018 with expected COD in March 2021. By June 2020, the IPP has
achieved 80% completion of construction work at site and expected to start its commissioning run
tests in the near future.
Current Status:
Company has signed IA and PPA and also executed Water Use Agreement with Government of Sindh.
The Project is expected to achieve Financial Closing by 4th Quarter of 2020.
83
84View entire presentation