Business Recorder October 24 2007
225 megawatts project implementation agreement signed
ISLAMABAD (October 24 2007): The Implementation Agreement for 225 MW Bhikki power project by
Halmore Power Generation Company was signed on Tuesday at the Private Power and Infrastructure Board
(PPIB). Muhammad Yousuf Memon, Managing Director, PPIB, signed the agreement on behalf of the
government, and Shahid Hafeez Ahmed, CEO of Halmore Power Generation Company, signed on behalf of
the company.
The plant will be located at Bhikki, District Sheikhupura, Punjab. Using pipeline quality gas, it will apply
combined cycle technology. The power plant will be set up at a cost of $169 million, and is totally financed
from the international markets where the leading sponsor, Dr Mian M Sharif, is a well known businessman
of UK, while the debt will be provided by leading foreign banks making it the first IPP to be singed under
the 2002 power policy which involves foreign lenders. It is expected that the power complex will start
supplying power to the national grid by October, 2009.-PR