AGL 5.78 Increased By ▲ 0.03 (0.52%)
ANL 8.88 Increased By ▲ 0.03 (0.34%)
AVN 78.93 Decreased By ▼ -0.57 (-0.72%)
BOP 5.29 Increased By ▲ 0.12 (2.32%)
CNERGY 4.70 Increased By ▲ 0.01 (0.21%)
EFERT 81.57 Increased By ▲ 0.47 (0.58%)
EPCL 50.96 Decreased By ▼ -0.03 (-0.06%)
FCCL 13.35 Decreased By ▼ -0.14 (-1.04%)
FFL 5.74 Decreased By ▼ -0.07 (-1.2%)
FLYNG 7.15 Decreased By ▼ -0.06 (-0.83%)
FNEL 4.82 Increased By ▲ 0.02 (0.42%)
GGGL 8.87 Increased By ▲ 0.17 (1.95%)
GGL 15.90 Increased By ▲ 0.15 (0.95%)
HUMNL 5.79 Decreased By ▼ -0.06 (-1.03%)
KEL 2.68 Increased By ▲ 0.10 (3.88%)
LOTCHEM 29.06 Decreased By ▼ -0.44 (-1.49%)
MLCF 24.99 Decreased By ▼ -0.31 (-1.23%)
OGDC 72.46 Increased By ▲ 0.01 (0.01%)
PAEL 15.35 Decreased By ▼ -0.05 (-0.32%)
PIBTL 5.06 Decreased By ▼ -0.09 (-1.75%)
PRL 16.31 Increased By ▲ 0.06 (0.37%)
SILK 1.08 Increased By ▲ 0.01 (0.93%)
TELE 9.39 Increased By ▲ 0.09 (0.97%)
TPL 7.34 Decreased By ▼ -0.01 (-0.14%)
TPLP 18.90 Decreased By ▼ -0.26 (-1.36%)
TREET 21.95 Increased By ▲ 0.10 (0.46%)
TRG 140.87 Decreased By ▼ -1.93 (-1.35%)
UNITY 17.01 Decreased By ▼ -0.19 (-1.1%)
WAVES 9.90 Decreased By ▼ -0.13 (-1.3%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 4,255 Increased By 7.1 (0.17%)
BR30 15,733 Decreased By -28.8 (-0.18%)
KSE100 42,394 Increased By 44.9 (0.11%)
KSE30 15,664 Increased By 31.9 (0.2%)
Follow us

KARACHI: Four globally reputed companies are intending to make a cumulative $600 million investment to convert Karachi’s garbage into electricity and the Sindh government has also given them green signal by signing Letter of Intent (LOI).

Sindh Energy Minister Imtiaz Ahmad Shaikh while talking to Business Recorder after the signing of LoI here at a local hotel Friday said that these companies will set up separate ‘waste to energy projects’ with a total capacity of 175 to 200 MW of electricity at Jam Chakro landfill site, Karachi by next year.

The provincial government will provide them land for the establishment of plants as part of its “Green Energy, Clean Karachi” initiative, he said.

Once executed, this would be Pakistan’s first waste to energy project in Karachi. All four companies will execute work on their respective projects, simultaneously.

“We are expecting around $600 million foreign investment in these projects,” Imtiaz said.

This project will also be expended to other cities of the province in future. We have also selected Hyderabad, Sukkur and Larkana, in the next phase.

LoI was signed by Imtiaz Shah Director Alternate Energy on behalf of Sindh Energy Department with the representatives of the five companies - M/s Khan renewable Pvt Ltd, M/s Babcocks and Wilcox renewable, M/s China Machinery Engineering Corporation, M/s Green Waste Energy Pvt Ltd and M/s Engro Energy Pvt Ltd.

Advisor to CM Sindh for Law and Administrator KMC, Barrister Murtaza Wahab, Dutch ambassador in Pakistan, Consul General of USA in Karachi, Consul General of UAE in Karachi, besides representatives of the energy companies and Secretary Local Govt Sindh Najam Ahmed Shah, Secretary Energy Sindh Abu Bakar Madni and other officers of provincial Energy department and Local Government department were also present.

Imtiaz said around 15,000 tons of garbage is generated from Karachi on a daily basis, which is transported to designated landfill sites. The intention of global energy companies for making handsome investment in waste to energy projects is good omen for a clean Karachi.

To a query he said, tariff for the waste to energy projects would be determined by National Electric Power Regulatory Authority (Nepra), and “If the Sindh Electric Power Regulatory Authority (Sepra) is established in the meantime, it will determine tariff,” Imtiaz said.

Copyright Business Recorder, 2022

Comments

Comments are closed.

Conversion of Karachi’s garbage into electricity: LoI signed as reputed cos keen to make $600m investment

Disasters cost $268bn in 2022: Swiss Re

PM for implementation of agreement reached at COP27

Flood relief activities: ‘Pakistan has received $738.53m foreign aid so far’

Jul-Nov trade deficit shrinks 30.14pc to $14.406bn YoY

Deemed income on capital assets: Taxpayers required to file new form separately

Global factory activity shrank last month

LPG price up by Rs11.7/kg for Dec

PRL barred from shutting down this month

No curbs on oil, LNG and POL products’ LCs: SBP

HSD, SKO & LDO: PL increased to generate Rs36.199bn