Jun 212008

KARACHI: Seven companies, including renowned foreign firms, have expressed their interest in a joint venture with the Sindh government to mine the Thar Coalfield.

The project, which, in the long term may grow into a mining and power generation complex worth seven to eight billion dollars, will initially require an investment of US$2.5 billion. The expected mine development project will require three to four years to reach a production capacity of six million tons per year. This would be sufficient to generate 1,000MW, said Sindh minister for mines and minerals, Khatoomal Jewan, at the Sindh Assembly on Friday.

According to Jewan, the capacity could be expanded by 30 million tons per year within three more years, and the country would be capable to produce 5,000MW of coal-based electricity.

The companies who had submitted their proposals include the Al-Tuwairqi Group of Saudi Arabia, Sinocoal International Engineering Group, China, Engro Group, JS (Jahangir Siddiqui) Group, Lucky Cement and some groups from the UAE.

The minister termed it the first successful effort of the provincial government to attract major investment. “This is the highest investment offer for a single project since the inception of this government,” he pointed out.

Daily Times: 21/6/2008

 Posted by at 12:30 pm

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