Dar for accelerating work on Gadani project March 10, 2014 OUR...

Dar for accelerating work on Gadani project

March 10, 2014 OUR STAFF REPORTER 0




ISLAMABAD - Federal Finance Minister Ishaq Dar has directed to accelerate the work on Gadani and put on fast track Jamshoro coal fired project for which funding is already available from the ADB.
Presiding over a meeting on Gadani Power Park here in the premises of the Ministry of Finance on Sunday‚ he said Gadani project is government’s priority. The Finance Minister also directed the IPDF to work in close collaboration project director at Gadani project. He urged for putting on fast track Jamshoro coal fired project for which funding is already available from the ADB.
Briefing the meeting on the broad framework of the Project‚ Secretary EAD Nargis Sethi informed that the site of the park is ideal as it converges with the available industrial infrastructure at Hub and very close to Karachi. She said that the park would include ten coal-based power projects, ash disposal units, residential area, schools and play areas. She informed the Finance Minister that Nespak is preparing PC-I for the whole project, which would include construction of jetty and related infrastructure. She said ten coal power plants would be established at Gadani Park.
During the course of meeting, Finance Minister emphasised that as this is the flagship project of the PML-N Government therefore it should be placed on fast track. He said that ultra super technology should be used and detailed study from independent sources should be carried out.
He said that the resource envelope is limited and we have to operate within the available resource space. He underlined that domestic private sector resources will be encouraged on BOT basis.
He appreciated that this is the least cost energy generation model which will meet our short to medium term energy requirements.
The meeting was attended by Advisor to Finance Ministry Rana Assad Amin, Additional Secretary Shahid Mahmood and senior officials of the Finance Ministry.

http://www.nation.com.pk/business/10-Mar-2014/dar-for-accelerating-work-on-gadani-project