Friday, 03 September 2010
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Govt, Engro Power ink Thar coal project MoU
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M Yasir Yousuf
KARACHI: A joint venture is about to start between government and Engro Power Gen Limited (EPGL) on Thar coal mining block II. The equity ratio of the project is 40:60 while the agreement in this effect has been reached in a meeting on June 1.
Engro Power Generation Ltd and Sindh Government now plan to negotiate, finalise and execute a Joint Venture Agreement after the execution of which they shall form a special purpose vehicle company.
The company will then firstly conduct a study to determine the feasibility of the mining project.
If it is found feasible, then the partners, through the company, will embark on the project.
EPGL, a 100 per cent owned subsidiary of ECPL, informed KSE that the company is interested in Block 2 of Thar coal field advertised by Sindh Government.
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