Engro Powergen Thar (Private) Limited (EPTL) and Sindh Engro Coal Mining Company (SECMC) have declared the Commercial Operations Date (COD) of the first phase of the Thar coal project.
EPTL has declared the COD of its 660 MW coal-fired power generation project with effect from July 10, 2019.
Furthermore, Engro Energy Limited’s associated company, SECMC Limited has also declared it shall start the supply of Thar coal to EPTL for its project.
SECMC successfully unearthed the first layer of coal in June 2018 and has also completed the 60-day testing period of steady-state production of on-specification coal, a statement said.
Commenting on the occasion, Engro Corporation President Ghias Khan said:
The declaration of the COD of the Thar coal mine and power projects is a monumental achievement. This showcases not just the ability of Engro to deliver on mega projects that are good for Pakistan but also underscores the success of public-private partnership models to deploy inclusive development in the country.
“At this juncture, I would like to congratulate the Federal and Sindh governments, along with all our partner organizations, for their catalytic role and support in helping us deliver on our commitments of the Thar coal projects”, he remarked.
Back in 2015, a Power Purchase Agreement was entered into between EPTL and the National Transmission and Despatch Company Limited, through its Central Power Purchasing Agency on behalf of ex-WAPDA Distribution Companies, in relation to EPTL’s 660 MW coal-fired power generation complex at Thar Block II.
Sindh Engro Coal Mining Company is a joint venture between Government of Sindh, EEL, Thal Limited, Hub Power Company Limited, Habib Bank Limited, CMEC Thar Mining Investments Limited and Huolinhe Open Pit Coal Investment Company.
The notification further read that the aforementioned projects will usher in a new era of energy security and prosperity for Pakistan which would not have been possible without the support extended by Government of Sindh, Government of Pakistan and all private stakeholders.
The company further said the COD milestone of both the mining and the power projects was a significant achievement given that the Thar dream had been an elusive reality for millions of Pakistanis for over 27 years.
At the time of filing this report, ENGRO’s shares at the bourse were trading at Rs 269.99, up by Rs 2.64 or +0.99% with a turnover of 273,300 shares on Wednesday.