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ThalNova Power Thar Ltd signs EPC Contract with China Machinery and Engineering Corporation

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ThalNova Power Thar Private Ltd (TNPTL) has signed the Engineering, Procurement, Construction (EPC) contract with China Machinery & Engineering Corporation (CMEC) in Beijing recently to develop the 330 MW Power project in Thar, Sindh. 

ThalNova is a CPEC power project based on Thar lignite coal to be located at the power park site within Block II, Thar Coalfields, District Tharparkar, Sindh. The project is one more step towards using indigenous coal as a source of power generation in Pakistan. As per the Generation License granted by NEPRA, ThalNova will supply electricity to the national grid for a period of 30 years.
ThalNova is a joint venture with Thal Limited and Novatex Limited as the main shareholders.

Federal Coordinator for China Pakistan Economic Corridor Mr. Zafaruddin Mahmood, CMEC Chairman Mr. Sun Bai, CMEC Vice President Mr. Fang Yanshui, ThalNova CEO Mr. Khalid Siraj Subhani and representatives from China Development Bank, Bank of China, China Credit Insurance Agency and Habib Bank Limited were present on the occasion.

Mr. Zafaruddin congratulated both the parties and highlighted the importance of Thar as a game changer for the energy industry of Pakistan. It is worth adding here that one of the biggest issues of the power sector in Pakistan is expensive power generation, hence cost-effective electricity production by ThalNova through indigenous Thar coal will help reduce power sector’s deficit and ultimately bring down the circular debt. 

ThalNova's CEO Mr. Khalid SirajSubhani congratulated Mr. Sun Bai and the teams involved in this landmark milestone for ThalNova project, which is one of the Early Harvest Projects under the CPEC between the governments of Pakistan and China. Mr. Subhani also lauded excellent support from the Sindh Government and Federal Government for the development of ThalNova and other energy projects at Thar with the ultimate goal of alleviating energy crisis in Pakistan using local fuel resources.
 
CMEC Chairman Mr. Sun Bai reaffirmed CMEC's commitment to Thar and congratulated Mr. Subhani and ThalNova on achieving this milestone. Thal Nova Power is an extension of the socially responsible businesses that reflect the DNA of its parent groups. ThalNova strongly believes in engaging the local communities in the areas where it operates and endeavors to play a positive influence on the local communities of Tharparker.
 
Thal Ltd. is part of the House of Habib – one of the most respected business houses in Pakistan with investments across banking, auto, retail, building materials and packaging sectors in Pakistan.
 
Novatex is part of the Gani&Tayub group which is a well-respected leading player in the polyester, textile and packaging sectors of Pakistan and contributes a major component of the total exports of the country.

Posted on: 2017-04-12T16:18:00+05:00

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