KARACHI (May 31): Chairman PPP Bilawal Bhutto Zardari has said that PPP never play politics on national development but “it is Mian Sahab [PM] who scraped 25000 MW power projects signed and approved by prime minister Benazir Bhutto just for his political shortsightedness.”
This he said while addressing inauguration ceremony of 100-MW gas-fired power project at Nooriabad.
He said Prime minister Benazir Bhutto had signed 25000 MW prowler project during her tenure but sorry to say he [PM Nawaz Sharif] scrapped all the project and plunged the country into darkness,” he said and added the he (PM) would be ousted in JIT and if escaped from it then people would oust him.
PPP Chief congratulated Sindh Minister Syed Murad Ali Shah for installing 100 MW power plant despite serious hinderances created by federal government.
Bilawal Bhutto said that conspiracies were hatched when Sindh government created power, distribution & dispatch companies to fail them. “But with the grace of God both the companies, power and Transmission & Dispatch, have developed to be successful companies which has installed a power plant laid transmission line.
Sindh Chief Minister Syed Murad Ali Shah addressing on the occasion congratulated people of Sindh said that the Sindh has launched its first major power project along with its transmission line. ” This is big success and I would say it is the success of people of Sindh.
Syed Murad Ali Shah said that actually this power plant was conceived by then president Asif Ali Zardari and it was planned to install on the abandoned gas fields. “But, the federal government not only refused to hand over the abandoned gas fields but at one stage was reluctant to provide gas for this project.
When this project was near completion, the Hesco refused to purchase power absurdly saying that it had surplus power for the area of its operation. ” This was something to be ashamed of for Hesco,” he said.
The chief minister warned Hesco, Sesco to perform efficiently, otherwise pack up. “we would instal our power plants, we have out Transmission & Dispatch Company and we would establish our distribution system,” he announced.
He said The Sindh Government has taken several initiatives to eliminate load shedding in Sindh in particular and Pakistan in general. He added, Besides major investment in the development of Thar Coalfield Block II, The Sindh government has provided major support to develop 2×50 MW Gas Fired Power Plant at Nooriabad, on Public-Private-Partnership (PPP) basis. He went on saying the private sector partner being Technomen Kinetics (Pvt.) Limited, a well known EPC contractor for sizeable industrial projects.
It may be noted that Nooriabad is about 85 km from the port city of Karachi and is connected by a major highway.
The chief minister said that 95 Km special purpose transmission line has also funded by Sindh government through Sindh Transmission & Dispatch Company (STDC) Limited at a cost of Rs. 2 Billion. He added that the initiative is to eliminate load shedding in Karachi for improving the industries, employment and wellbeing of the citizens of the Karachi.
Syed Murad Ali Shah said the gas is being allocated for 2×50 MW power projects through a decision by the Economic Coordination Committee (ECC) of the Federal Cabinet. He added that the gas quantity is 20 MMSCFD of pipeline quality capable of producing 100 MW. “He added that 50 acres of land has already been acquired by the project companies.
Talking about ownership structure of the project, the chief minister said that the project has been established through two Special Purpose Companies (SPC) – viz. Sindh Nooriabad Power Company (Private) Limited (SNPC) and Sindh Nooriabad Power Company Phase II (Private) Limited (SNPC II). He added that Sindh government has assumed 49 percent of the equity and the Technomen Kinetics (Private) Limited has subscribed to 51 percent of the equity.
Giving detail of financing structure, Syed Murad Ali Shah said that the project is funded through 80 percent debt and 20 percent equity. He added that the debt Is being provided by National Bank of Pakistan, Sindh Bank and Sindh Government Employees Pension Fund. The Project cost is estimated at USD 130 Million.
The chief minister said with the commissioning of 2×50 MW projects, Karachi will be able to reduce load shedding significantly and would provide cheap electricity to the citizens of Karachi.
The chief minister said that It is heartening to note that the company is further allocated with 40 MMCFD of RLNG to establish 225 MW project in Karachi to further reduce the shortfall.
Earlier, Chairman PPP inaugurated power plant by pressing a button in the main control room. The chairman power company Khursheed Jamali briefed the PPP chairman about the power plant.
On the occasion provincial ministers, Nisar Khuhro, Manzoor Wassan, Syed Nasir Shah, MPAs, MNAs, senior bureaucrats were also present.