Karachi: The Hub Power Company Limited (HUBCO) is set to invest $900m for their coal- based projects with the power of 660MW. In this regard, The CEO of HUBCO Khalid Mansoor told that the approval of National Transmission and Dispatch Company is required for our company as we are looking for Letters of Intent (LoI) from Private Power and Infrastructure Board (PPIB) for removal of power.
HUBCO CEO Khalid Mansoor also told that the practicability of project has been started by the company as it needs 12 to 18 months for the financial conclusion of the project. While the application of looking of (LoI) has already been approved by the board of directors of HUBCO as (LoI) from PPIB is necessary for this new power project. However, BOD of company has also approved the amount of $20 million which will be invested in Sindh Engro Coal Mining Company (SECMC) as this investment will be beneficial for power sector.
The development of coal- based Brownfield project is undergoing on rapid basis while technical planning and invitations to bidders (ITB) is preparing by professionals in order to get proposal from Engineering Procurement Contractors (EPC) CEO Khalid Mansoor added. He further told that lots of investors from overseas is getting attracted towards this project as it is going to be most beneficial project for all.
