- 900MW plant is being built at an estimated cost of around USD 650 million to generate clean and reliable energy for Karachi
Karachi: Minister for Industries and Production Makhdum Khusro Bakhtyar on Thursday met with K-Electric's (KE) Senior Management at the company's Bin Qasim Power Complex to review the progress on KE's mega-project Bin Qasim Power Station 3 (BQPS-III), which will add 900MW to K-Electric's generation capacity and bolster the future of Karachi's growth.
Equipped with state-of-the-art technology, 900MW plant is being built at an estimated cost of around USD 650 million to generate clean and reliable energy for Karachi. Upon completion, the power plant will be among the top 5 most efficient plants in the country. Work on the first unit of 450MW is 90 percent complete while the second phase of 450MW is also proceeding swiftly.
The minister appreciated KE's efforts to make sustained investments for Karachi's betterment. He said, "Karachi is an industrial hub of the country and the focus of my visit was to see the progress across sectors. It is encouraging to see the progressive vision that is driving KE's efforts. Industries are the engine of our economy and the Government is committed to supporting their growth through enabling policies. There is tremendous potential for investment in Pakistan, and a robust utility supply is integral to achieving this. The addition of 900MW for Karachi is a gift to the people and the industries here, and it would be a great honour for the plant to be formally inaugurated by the Honourable Prime Minister upon its completion."
Growth in power demand in KE's service area is expected to remain above 5 percent and KE expects over 700MW of new connections in next 2 years, with more than half in the industrial segment. Construction works on BQPS-III plant started in December 2019 and work is progressing on a fast-track basis for completion of the plant to keep pace with the demand growth of the city. In August 2021, KE entered into a Gas Supply Agreement (GSA) with Pakistan LNG Limited (PLL) for the provision of 150 mmcfd RLNG to KE's Bin Qasim Complex in the presence of Minister of Energy Hammad Azhar and SAPM Tabish Gauhar. The GSA is the first of its kind where a government entity is directly providing gas to a private entity, and testifies to the Government's commitment towards Karachi.
CEO KE Moonis Alvi also thanked the minister for his visit and said, "BQPS-III is a collaboration between several stakeholders on both the engineering and financing side, which demonstrates the vision we all share for the prosperous future of our city, and for our country. A stable, safe, and consistent supply of energy is crucial to sustaining continued development in Karachi, and KE is proud to be leading this effort for its customers. We appreciate the support of the Federal Government and associated Ministries and look forward to embarking on a new era of progress and prosperity."
At the same time, KE has been working closely with the Federal Government and relevant stakeholders to establish new interconnections and grids at key locations which would enable Karachi to receive additional power from the National Grid, taking the total drawl from National Grid to 2,050MW, which will cement the company's mission to provide safe and reliable power to its growing customer base of 3.2 million and more.
Copyright Business Recorder, 2021