It gives me great pleasure to congratulate FFBL Power Company Limited on the inauguration of a state-of-the-art 118 MW Coal-Fired Power Plant at Bin Qasim, Karachi. The successful completion of the plant within the envisioned time is a testament of the project team's commitment and demonstrates their capacity to deliver par excellence.
The diversification of business by Fauji Fertilizer Bin Qasim Limited and venturing into the energy sector is indeed a success story and we commend FFBL on this remarkable achievement. The energy sector has not only attracted local players but also a lot of investment coming in from foreign markets ensuring transfer of technology and human resource development subsequently adding more value for the industry. This has been achieved with investor-friendly policies of the government coupled with conducive level playing field established by the regulatory authorities.
As part of our agreement with FFBL Power Company Limited, K-Electric will procure 52 MW of power supply which is in line with the utility's commitment of diversifying the fuel mix, lowering the generation cost and subsequently passing on the positive impact to end-consumers. Partnership with FFBL Power Company Limited is part of the utility's efforts to enhance its generation capacity with external sources and foundation of a long-term business association.
K-Electric is committed to ensure provision of affordable and reliable energy solutions to its consumers; since 2009 the utility has invested $1.2 billion and added 1037 megawatt added in its generation capacity. The continuous stream of investment from KE has further strengthened the power infrastructure and reinforces our long-term commitment to serve the people of Karachi.
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