Karachi: Aimed at facilitating Bin Qasim Industrial Park’s anticipated additional power requirement in view of the ongoing phase II development of the project, K-Electric and National Industrial Parks Development & Management Company (NIP) have signed a Memorandum of Understanding today.
The MoU was signed by Moonis Alvi, CEO K-Electric, and Rizwan Bhatti, CEO NIP, in the presence of Abdul Razzak Dawood, Adviser to Prime Minister and other prominent businessmen at PIDC house today.
Through the MoU, KE will develop a 64-megawatt grid and 132kV transmission line, extendable as per future needs, at an initial tentative cost of Rs 1.8 billion.
At the same time, NIP will seek approval from the federal government for funding support under Special Economic Zones Act 2012.
The MoU comes at a crucial time when various large-scale industrial concerns in the project are planning to enter production phase in the coming months.
On this occasion, Moonis Alvi, CEO, KE said, “We are committed to powering industrial growth and facilitate industrial customers; signing of this MoU today is yet another testament of our efforts to accelerate socioeconomic development of Pakistan industrial hub Karachi. Industries are and will always remain our top priority and all possible measures would be taken to continue to facilitate industrial consumers – helping them unlock their full potential.”
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