PPIB, Uch-II Power ink LoS for 404MW project

ISLAMABAD (APP) - Private Power and Infrastructure Board (PPIB) and Uch-II Power (Private) Limited, an affiliate of Uch Power (Pvt) Limited, Wednesday signed a Letter of Support (LoS) for a 404 MW (gross) capacity power project.
The project is based on indigenous low Btu Gas from Uch Gas Field, located near Dera Murad Jamali District Nasirabad, Balochistan, said press release issued here.
The Project will bring Foreign Investment of around US$ 500 million to the country resulting into socio-economic uplift of Balochistan and Pakistan. Uch-II Power Private Limited is a blue chip international investor with vast experience of developing power projects around the world.
The major shareholders of Uch-II Power Project are International Power of UK and Creative Energy Resources, UAE.
Uch-II Power Project is based on indigenous low Btu gas and in view of the prevailing power shortages and increasing dependence on imported fuel oil and this project is very important from national perspective.
Further the low Btu gas cannot be injected to National Gas Pipeline System and could not be used for any other purpose expect Power generation.
As per the agreed timeline the Project Company Uch-II Power (Private) Limited is required to sign Project Agreements and achieve Financial Close by March 2011 and Commercial Operation of Project by 2013.