SECMC inks coal supply agreement with LEPCL

 KARACHI (PR): Sindh Engro Coal Mining Company (SECMC) has signed a coal supply agreement with Lucky Electric Power Company Limited (LEPCL) to supply 3.6 million tonnes of coal per annum from its open pit coal mine in Thar Block II.

On behalf of SECMC, the CSA was signed by SECMC COO Syed Abul Fazal Rizvi, while CEO of Lucky Electric, Intesar Ul Haqqi signed it on behalf of LEPCL.

Lucky Electric Power Company Limited (LEPCL) is a public unlisted company, incorporated in 2014. Coal will be supplied to LEPCL as part of Phase III of mine expansion by SECMC. Previously, SECMC had signed coal supply agreements with Engro Powergen Thar Limited, Thar Energy Limited and ThalNova Power Thar Limited for cumulative supply of 7.6 million tonnes per annum which will generate 1320MW. The first electron to be produced from Thar coal is expected by December 2018. SECMC’s Block II mine at its optimum capacity will be the cheapest source of baseload energy in Pakistan, producing 30 million tonne per annum at USD 32/tonne which translates into approximately 6 US cents per kWh, sufficient to fuel 5280MW for the next 50 years. The LEPCL project involves development, construction and operation of a super-critical coal fired power plant with a capacity of 660MW. The power plant will consist of a one coal-fired generating unit with a maximum gross capacity of approximately 660MW. The entire equity has been injected by Lucky Cement Limited through its fully owned subsidiary LCL Holdings Limited. The LEPCL project site is spread over 250 acres in Port Qasim, Karachi. For the first time, Thari coal will be transported from Thar to a power plant based outside of Thar through trucks.

Muhammad Ali Tabba, CEO Lucky Cement Limited, attended the signing ceremony and expressed his resolve of contributing towards national progression and energy self-reliance in Pakistan. He is a firm believer of aligning individual business development objectives with national economic development paradigm to ensure rapid and sustained growth in Pakistan. Tabba appreciated the synergy evolved amongst LEPCL and SECMC and stressed the need of encouraging more initiatives connecting business houses.

Expressing his opinion about the agreement at the ceremony, CEO of SECMC Shamsuddin Shaikh stated, “This partnership is a testament to the promise of making Pakistan a self-sufficient energy hub. SECMC will continue to expand to provide sustainable and affordable energy through an indigenous resource, helping the nation overcome the energy crisis.” He further stated that the utilization of Thar coal will also contribute in a number of ways such as employment generation, infrastructure development and significant savings in foreign exchange against imported fuels.

 SEED Ventures CEO attends reception at St James’ Palace

UNITED KINGDOM (PR): His Royal Highness The Prince of Wales met with heads of government and heads of state from across the Commonwealth at a Prince’s Trust International reception held at St James’ Palace recently. Faraz Khan, CEO of SEED Ventures in Pakistan, was in attendance to talk about how delivery of the Prince’s Trust International Enterprise Challenge programme is inspiring the next generation of entrepreneurs.

The event welcomed representatives from across the Commonwealth, who heard from The Prince of Wales and Lloyd Dorfman CBE, chairman of The Prince’s Trust and Prince’s Trust International about how Prince’s Trust International is working with a range of delivery partners to support young people around the world into sustainable employment, education or training.

The Prince of Wales paid tribute to the young people whose lives have been transformed by his charity and the devotion of all those behind its work. He also spoke of the opportunity to support more unemployed young people across the Commonwealth with Prince’s Trust International’s programmes in education, personal development and business.

Lloyd Dorfman CBE, chairman, Prince’s Trust and Prince’s Trust International, said: “The mission of our charity, to provide skills and jobs for young people, will create our common wealth. Since launching at the last CHOGM in 2015, PTI has grown and developed. We are running programmes in nine countries, seven of which are in the Commonwealth, including Pakistan.”

The Prince’s Trust International Enterprise Challenge programme, delivered by SEED Ventures provides young people with an opportunity to learn core business skills.

Following the successful launch of the programme in 20 Pakistani schools in 2016, last year delivery was extended to 45 schools reaching over 600 students in 28 cities across Pakistan.

Faraz Khan, CEO of SEED Ventures said: “Enterprise development across various landscapes and verticals is SEED’s core mandate, and we believe that young people can contribute immensely to this ecosystem. Hence, the pace, quality and scale of Enterprise Challenge Pakistan is of utmost importance which is why it has become Pakistan’s largest business challenge for school children in the short span of two years. We need to engage our budding entrepreneurs from a very early age as they have the potential to resolve the economic challenges and bring about an immensely noticeable change in the country’s economy.”

In 2018, SEED Ventures is expected to reach 70 schools and over 1000 young people. This is a significant achievement by SEED to be able to extend their delivery across every region of Pakistan, reaching many more young people from more remote and under-served areas of the country.

 Cool & Cool holds event

 KARACHI (PR): Pakistan’s first beauty show 2018 “BEAUTY AND YOU”, a three-day event, was held at Global Marquee by Cool & Cool recently.

It was attended by number of families and famous brands had displayed their products. The show included food court and play land for children. Gifts were also distributed.  Celebrities of showbiz also participated in the show. Chairman of Cool & Cool, Arif Pardesi said, “It is the first show of this kind and I am happy that a large number of families came to visit and liked the show.” He thanked the participating companies and expressed the intension to hold such shows in future.