K-Electric inks deal with Chinese firm for 700MW coal powered plants

KARACHI: K-Electric has entered into an agreement with a Chinese company to set up two power plants with a combined capacity of 700MW on Tuesday, which the company claims will help alleviate the power woes of its consumers.

According to K-Electric sources, two coal powered plants of 350MW capacity each will be set up at a cost of US$ 1 billion.

K-Electric CEO, Tayyab Tareen told media personnel that coal for the two plants will be imported from Indonesia.

Tareen also told journalists, that the matter regarding K-Electrics contract with the federal government to receive 650MW from the national grid is being discussed with and will be resolved soon.