Shanghai Electric, the Chinese utility company is investing $4 billion in the Thar Coal block. It will develop two more power plants of 1320 megawatts.
The project was discussed by a seven-member delegation of Shanghai Electric that called on the Chief Minister Syed Murad Ali Shah at his residence in Karachi.
Basically, the Thar block is mined by Shanghai Electric and two power projects will be established by them at the Thar coal block one.
Syed Murad Ali Shah spoke on the occasion and said that the financial close of the project will be by the end of 2019. The project will open employment opportunities for the locals.
Chairman Pakistan People’s Party (PPP) Bilawal Bhutto Zardari inaugurated the Thar coal power project back in April. The project has the capacity to generate 660 megawatts and it consists of two power generation units of 330MW each.
This project was done under the multi-billion dollar China-Pakistan Economic Corridor’s (CPEC) flagship public-private partnership with the Government of Sindh. The Sindh government gave $700 million worth sovereign guarantee for the project.